Qatar Telecom (Qtel) is looking to purchase a private equity partner’s share of Iraq’s second largest mobile operator by subscribers Asiacell, ahead of the cellco’s initial public offering (IPO) expected to take place later this year. According to a report by Reuters which cites two banking sources, the Qatari incumbent, which owns a 30% stake in Asiacell, is eyeing London-based partner MerchantBridge’s 19% interest in the cellco. Morgan Stanley is assisting Qtel in the process, while MerchantBridge is being advised by Credit Suisse, the unnamed sources said, adding that a sale of the private equity firm's stake was likely to happen before the IPO.*TeleGeography’s GlobalComms Database states that Asiacell – along with Iraq’s two other national cellcos Kuwaiti-owned Zain Iraq and Korek, part-owned by France Telecom – were all required to list 25% of their shares on the Iraq Stock Exchange (ISX) by 31 August 2011 under the terms of their 15-year national mobile concessions
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OVETEL Qtel eyes partner’s stake in Asiacell
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