Wataniya Palestine, a subsidiary of Qatar’s Qtel, will list 30% of its shares on the Palestine Securities Exchange before the end of the summer.
In a March 31 statement, Mohammad Mustafa, the chairman of the operator, said that he had appointed an…
Wataniya Palestine, a subsidiary of Qatar’s Qtel, will list 30% of its shares on the Palestine Securities Exchange before the end of the summer.
In a March 31 statement, Mohammad Mustafa, the chairman of the operator, said that he had appointed an advisory team to help set the date and the price for the IPO.
Mustafa declined to say which banks the company had appointed.
Wataniya Palestine only launched its mobile phone services in November last year, even though it won the licence to operate in the West Bank and Gaza at the beginning of 2007.
The Israeli authorities, including the country’s telecoms regulator, repeatedly failed to release the spectrum Wataniya needed to operate.
The operator had 110,000 customers at the end of 2009 generating revenues of US$7.6m. Wataniya Palestine recorded a loss for 2009 of US$94m.
Wataniya only operates in the West Bank because the governing Hamas party refuses to recognise its licence to operate in the Gaza Strip.
