Qatari telco Ooredoo is looking at listing on a major international stock exchange, potentially London, according to CEO Nasser Marafih.
Speaking on the sidelines of a conference in Dubai, Marafih told Reuters that Ooredoo has been considering an…
Qatari telco Ooredoo is looking at listing on a major international stock exchange, potentially London, according to CEO Nasser Marafih.
Speaking on the sidelines of a conference in Dubai, Marafih told Reuters that Ooredoo has been considering an additional listing for some time to improve the liquidity of its shares.
Qatar’s number one telco is already listed on the Qatar and Abu Dhabi exchanges.
Marafih said the company is looking at London and “others”, without naming them, adding that there is no specific plan or timeframe yet.
The Qatari government and state-affiliated entities have a 69% stake in Ooredoo, while the Abu Dhabi Investment Authority has a 10% stake – none of which are considering selling their stakes, Marafih reportedly pointed. The balance is in free float.
The chief executive also said its Indonesian unit Indosat is considering selling the 5% stake in Tower Bersama acquired when it sold 2,500 towers to the infrastructure firm for US$406m in February 2012.
Proceeds from such a sale could be used for investments in infrastructure, networks or other purposes, he said.
Ooredoo, which changed its name from Qatar Telecom earlier this year, operates in the Middle East, Africa and Asia-Pacific.
