Qtel to buy majority of telco in Pakistan
Qatar Telecom is continuing its expansion into new markets with the opening of its home market to competition earlier this year. The company, otherwise known as Qtel, said it has agreed to acquire about 75% of Burraq Telecom in Pakistan for $12.3 million.
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Qtel, a government-owned provider, said it partnered with AA Turki, a firm in Saudi Arabia, on the deal. Qtel last month bought a controlling interest in Wataniya, the mobile carrier that serves customers in multiple nations in the Middle East, including Iraq. Among other expansion moves, Qtel made a minority investment in a Telemedia, a mobile carrier in Asia owned by Singtel, earlier this year.
Qatar is currently planning to sell wireline and wireless licenses to introduce telecom competition into the nation.
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