Qtel has agreed to acquire a further 15% stake in Tunisian operator Tunisiana for US$360m.
Following completion of the deal, Qtel and its subsidiaries will own 90% of Tunisiana, said Qtel in an announcement earlier this week.
Tunisiana is already…
Qtel has agreed to acquire a further 15% stake in Tunisian operator Tunisiana for US$360m.
Following completion of the deal, Qtel and its subsidiaries will own 90% of Tunisiana, said Qtel in an announcement earlier this week.
Tunisiana is already 75%-controlled by Kuwaiti carrier Wataniya Telecom, itself majority-owned by Qtel.
The Tunisian government has retained a 10% holding in the local telco with a view to an IPO in the future, added the announcement.
“We…look forward to continuing our partnership with the Tunisian authorities as Tunisiana enters into a new phase of its development with the continuing expansion of 3G services and the launch of fixed line services in 2013,” said Sheikh Abdullah bin Mohamed bin Saud al-Thani, chairman of Qtel Group, in the company statement. “We are convinced that these new services will enhance the experience of Tunisiana’s customers and will contribute to growth in Tunisia’s economy.”
