Home / Qtel contemplates Wataniya integration

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.

Follow us to get the most comprehensive technology news in UAE delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

CHANNEL AWARD 2018