Complex Made Simple

Qtel gains slightly, concludes deal with PT Tower Bersama

The QE 20 Index closed 0.10% higher at 8,340.31 points. Qatar Telecom or Qtel added 0.20% to end at QR105. Earlier in the day, Qtel announced the closing of its sale and lease back transaction for 2,500 towers with Malaysia's PT Tower Bersama Infrastructure Tbk for an upfront consideration of $406m. The consideration consists of a cash component and 239,826,310 newly issued TBIG shares, representing 5% of TBIG's enlarged share capital.