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
china wholesale market

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: March 4, 2015
INTERNATIONAL. The real issue, that no one is fully prepared to address, is whether Greece's decades-long experiment with failed debt-financed socialism will be allowed to survive much longer.
date:Posted: March 4, 2015
UAE. The strong fiscal positions of most GCC sovereigns curb the need for debt or sukuk issuance to meet financing needs for infrastructure projects or deficits.
date:Posted: March 4, 2015
SAUDI ARABIA. Asset managers with best-of-breed technology able to provide sophisticated trading, risk management, portfolio accounting and reporting capabilities, set to take advantage.
dhgate