Qatar Telecom (Qtel) will raise its 53.9 percent stake in subsidiary Asiacell as part of the Iraqi firm's US$1.35bn share sale, the largest ever stock listing on the Baghdad bourse, an exchange official said on Thursday.
Qtel's broad strategy has been to take greater control of its foreign units; since last year it has spent US$2.16bn to raise its holdings in Tunisiana and Kuwait's Wataniya to 90 percent or more.
Muddying this approach has been Asiacell, Iraq's second biggest telecommunications operator, which is offering a quarter of its shares to the public as part of its licensing obligations.
The offer opened on January 3 and aims to sell 67.5bn shares for at least IQD22 ($0.02) each. Asiacellis due to list on the Iraq Securities Exchange on Sunday.
http://www.arabianbusiness.com/qtel-raise-stake-in-asiacell-s-iraq-share-offer-487917.html
No comments:
Post a Comment