Virgin Group to sign branding deal with Qtel
Qtel set to launch franchise partnership with Richard Branson's Virgin Group
Qatar Telecom (Qtel) will announce later today a brand partnership with Richard Branson's The Virgin Group.
The multi-country brand franchise partnership will begin with the launch of Virgin Mobile Qatar, with the option to extend into other territories within The Qtel Group's regional footprint, Qtel said in a statement.
No further details have yet been announced but a further statement is expected later.
The Qatar telco, which is in competition with Vodafone Qatar, said last month that it more than doubled its first quarter net profit.
The firm posted a first quarter net profit of $329.8 million, compared with $158.3 million in the year ago period.
Expected competitive pressure in Qatar was offset by growth in other markets, particularly Tunisia, Iraq, Algeria and Oman.