Qatar Telecom, Princess Holding to buy 50% Tunisiana stake
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Mon November 22, 2010 12:49 pm

QATAR. Qatar Telecom and Princesse Holding of Tunisia will buy 50% of Telecom Tunisie for US$1.2 billion from Orascom Telecom Holding as the Egyptian company sells assets.

Qatar Telecom’s unit Wataniya Telecom signed an agreement with a group led by Princesse Holding, a diversified holding company based Tunis, to purchase the stake, Qatar Telecom said in an e-mailed statement today. Wataniya already holds 50% of Tunisiana.

“Wataniya will finance its portion of the transaction with a mixture of existing cash and debt, and now will control the board and management of Tunisiana,” according to the statement. Tunisiana had more than 5.7 million subscribers at the end of September, it said.

Orascom Telecom’s parent company, Weather Investments SpA, agreed on October 4 to a merger with Russia’s VimpelCom Ltd. in a transaction valued at about US$6.5 billion. The boards of both companies will meet by the end of this month to complete the agreement.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: September 20, 2017
UAE. The latest BNC Network report shows 543 hospitality projects are active in the UAE - reflecting the vibrancy of the leisure, tourism and the entertainment sectors.
date:Posted: September 18, 2017
SAUDI ARABIA. A new report by executive search firm Metin Mitchell & Co highlights the confidence that Saudi women feel about their working futures and what needs to be done to increase the number of women in the workplace.
date:Posted: September 15, 2017
UAE. First of its kind study in the MENA region reveals why we are emotionally drawn to certain destinations and environments; Visible everyday human activity, greenery, artistic features and bright colours found to be the most powerful drivers of emotional engagement.
dhgate