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: May 30, 2017
UAE. How important are Apps in everyday life? Global research from A10 Networks spotlights importance of Apps in daily life, potential behavioural risks to personal, corporate security.
date:Posted: May 30, 2017
UAE. Payment plans have progressively eased from 2013 (when more than 80% of launches had payment terms that were front ended) to 2016 when more than 55% of launches had back ended and post-handover payment plans.
date:Posted: May 27, 2017
UAE. As demand for the luxury segment signals a comeback, developers have responded by scaling up launches; general consensus that the segment has underperformed appears to be factual.
UAE. Payment plans have progressively eased from 2013 (when more than 80% of launches had payment terms that were front ended) to 2016 when more than 55% of launches had back ended and post-handover payment plans.
dhgate