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Sovereign Wealth Funds Briefing - Categorized | Financials

Qatar Telecom offers $2.2 bln for Wataniya stake

Posted on 17 August 2012

Qatar Telecom (Qtel) is offering $2.2 billion to buy the remaining 47.5 percent stake it does not already own in Kuwaiti telecom company Wataniya as the state-owned operator eyes acquisitions to ward off threats from rivals. Kuwait sovereign fund owns 23.5 pct stake in Wataniya.
The fund is yet to decide whether to tender its Wataniya stake to the offer, a source familiar with the matter said. “The KIA stake is going to be key as the fund owns a similar stake in other telcos in Kuwait, including Zain,” a source said, adding: “if they sell Wataniya, does that mean they will be willing sellers of the rest? We will have to wait and see.”……………………………………….Full Article: Source

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