Qatar Telecom (Qtel) has concluded a mandatory tender offer for additional shares in its Kuwait-based subsidiary National Mobile Telecommunications (Wataniya Telecom), resulting in its controlling stake rising from 52.5% to 92.1%. Qtel made a USD2.2 billion offer to minority shareholders of Wataniya Telecom on 4 September 2012 for the 47.5% of shares it did not own, and at the offer’s expiry date of 4 October it had received acceptances for 199.65 million shares, representing a 39.61% stake, costing KWD519.1 million (USD1.84 billion) at a price of KWD2.60 per share
More:
OVETEL Qtel raises Wataniya stake to 92.1%; Kuwaiti sovereign fund offloads entire interest
No comments:
Post a Comment