Companies / Kuwait
Qtel Wins Through On Wataniya Stake
March 2007 | Company Finance AlertOn the back of our announcement last week regarding Qtel's interest in acquiring a 51% stake in Kuwait's No2 mobile operator Wataniya, it has since been announced that the Qatari state-owned telecoms provider's offer of US$3.7bn has been accepted by the investors of Wataniya shareholding company Kuwait Projects Company Holding (KIPCO). The final agreed price surpassed the US$3.36bn paid by Kuwait's leading operator MTC Group for Africa's No3 mobile operator Celtel, which makes the Qtel deal the largest-ever acquisition by a Gulf Arab operator.
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