Qtel contemplates Wataniya integration
Speaking in Dubai this month, Jeremy Sell, senior VP business development at Qtel said the company would update the market with respect its strategy for integration of Wataniya Telecom following the announcement of 2Q results.
Qatari telco Qtel has given itself 100 days to assess its acquisition of Kuwait mobile operator Wataniya Telecom, before detailing itself strategy for the integration of the newly acquired entity.
Notice of Qtel’s acquisition of Wataniya was made public at the beginning of March, when the Qatar incumbent announced it had agreed to acquire a 51% stake in Wataniya for a consideration of US$3.7 billion. Speaking in Dubai this month, Jeremy Sell, senior VP business development at Qtel said the company would update the market with respect its strategy for integration following the announcement of 2Q results.
“In the meantime we are looking to refinance. The acquisition was made with short-term debt and we are looking to convert that into a medium-term facility,” he stated.
Ahmad Haleem, Wataniya International’s former CEO told CommsMEA shortly after the acquisition that it was important to act decisively in incorporating Wataniya businesses into its own group. It is not known, however, whether Wataniya will continue to operate as a separate brand, whether the Qtel brand will be extended to include Wataniya operations, or whether a completely new brand will be developed.