Qatar Telecom (Qtel) and A.A. Turki Corporation for Trading and Contracting of Saudi Arabia (ATCO) completed their joint venture investment to purchase a 75 percent stake in Pakistani telecom operator Burraq Telecom. Burraq is an established operator licensed to offer a full range of telecommunications services across Pakistan, including long distance international and wireless local loop. Following the investment of the Qtel/ATCO joint venture and further capital contributions, Burraq plans to invest approximately USD 80 million in the coming few years to deploy and operate BWA/WiMAX networks within Pakistan. The Qtel/ATCO investment in Burraq is a part of the joint venture’s strategy to jointly develop and operate BWA services, including WiMAX and other complementary services, in markets in the Middle East, Asia, and North Africa. Qtel owns a 51 percent stake in the joint venture.
Wireless Federation » Qtel finalises acquisition of 75% of Burraq Telecom
Qtel finalises acquisition of 75% of Burraq Telecom
- May 23rd, 2007
- 9:03 am
