Home / Qtel eyes expansion in Philippines

Qtel eyes expansion in Philippines

Qatari incumbent strengthens its interest in the Southeast Asian country

Qtel has acquired a “significant stake” in Philippines-based Liberty Telecom Holdings, a provider of wireless voice and data telecommunications services, according to a report from Qatari daily, The Peninsula.

The move follows an earlier deal in which Qtel acquired 27.12% of Liberty Telecom through its subsidiary wi-Tribe Asia, in May 2008, according to information submitted by Liberty Telecom to the Philippines Stock Exchange.

The development also comes just weeks after Qtel officials visited the Philippines to investigate investment opportunities. Delegates from Qtel met the Philippines’ president, Gloria Macapagal-Arroyo in December to review potential areas of cooperation for the extension of access to broadband internet technology in the country.

Following the meeting, Qtel signed a telecommunications memorandum of understanding with the San Miguel Corporation (SMC), one of the Philippines' leading business conglomerates, as part of the group’s ongoing plans for expansion and consolidation within Southeast Asia.

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