Qatar telecom plans increased investment in Iraq, Algeria
www.WirelessFederation.com/news: Due to potential for expansion in the Iraqi and Algerian telecoms markets, Qatar telecom is contemplating increased investments in the two countries.
According to the CEO of Qatar Telecom (Qtel), Nasser Marafih, the global financial crisis had some positive impact on Qtel’s businesses in the sense that the lowering of license fees worldwide to a ‘more realistic’ level meant it was cheaper to expand into new markets. He also feels that the lower prices will create further opportunities for Qtel’s acquisitions in the future.
36.2% of mobile operator Wataniya Telecom Algeria (Nedjma) is controlled by Qtel via 71% stake held by Kuwaiti-based Wataniya Telecom (NMTC). 14 communication companies in 17 countries are currently controlled by Qtel. However, all the plans to expand the business in the African market are abandoned by the company due to tough competition.
Orascom ups stake in Algerian subsidiary by 7.91 percent
Orascom Telecom Holding (OTH) will increase its stake in its Algerian mobile subsidiary, Orascom Telecom Algeria (OTA), by 7.91 percent. Orascom buys the stake from Emirates International Investment for a cash consideration of USD 399 million. Following the deal, Orascom Telecom will directly and indirectly own 95.6 percent of OTA. The purchase will be funded by internal cashflow and by drawing from its USD 2.5 billion corporate facility put in place early this year.
Source- http://www.telecompaper.com
