Published: October 9, 2012
Qatari telco now owns 92% of Kuwaiti mobile company.
Qatar Telecom (Qtel) has closed its minority buyout of Wataniya, Kuwait’s national mobile telecoms company.
A tender offer period closed last week, with shareholders accounting for some 39.61% of the target’s shares in issue agreeing to sell their holdings to Qtel. The deal, worth KWD519.1mn (US$1.8bn), will allow Qtel to increase its shareholding in Wataniya to 92.1% from 52.5%.