Qtel announces completion of Mandatory Tender Offer for Wataniya Telecom Kuwait

Following approval from the Kuwait Capital Markets Authority ("CMA") and execution by the Kuwait Stock Exchange ("KSE"), Qtel has completed the acquisition of 199,649,694 Wataniya Telecom Kuwait shares representing 39.61% of the total shares in issue for a total consideration of KD519.1m ($1.8bn) at a price of KD 2.600 per share.As a result Qtel's shareholding in Wataniya Telecom Kuwait has increased from 52.5% to 92.1%.

The Qtel Group is a leading international communications company, with a significant presence in the MENA region and Southeast Asia, and having a consolidated customer base of 89.1 million as of 30 September 2012. Its businesses operate under various names, including Qtel, Indosat, Asiacell, Wataniya, Nawras, Nedjma and Tunisiana.

The Qtel Group's principalactivities are mobile telephone services, broadband solutions, digital futures and fibre technologies, serving both consumer and business markets. Headquartered in Doha, Qatar, the Qtel Group is ambitiously growing its global business on the basis of its insights into the needs of customers in emerging markets. Qtel Group's ultimate parent company is Qatar Telecom (Qtel) Q.S.C., whose shares are listed on the Qatar Exchange and the Abu Dhabi Securities Exchange.