Qtel invests in Pakistan

Qatar Telecommunications (Qtel) has bought a majority stake in Pakistan broadband provider Burraq Telecom.

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By  Administrator Published  May 3, 2007

Qatar Telecommunications (Qtel) has bought a majority stake in Pakistan broadband provider Burraq Telecom.

The operator clubbed together with an unnamed Saudi Arabian partner to purchase the stake, which it acquired for around US$12.3million.

Burraq Telecom is the second key acquisition this year for Qtel after it captured Kuwait's National Mobile Telecommunications Company (Wataniya) in March for US$3.72 billion.

Qtel is on a drive to expand internationally as it prepares for the end of its monopoly over Qatar's telecoms market.

Burraq Telecom is a newly formed operator that is setting up a long distance and international transmission network in Pakistan, according to the company's web site.

Qtel is not the first regional operator to invest in Pakistan's telecoms market; the UAE's Etisalat bought a 26% stake in Pakistan Telecommunications Company for US$2.6 billion in 2005.

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