Home / Qtel buys share in firm

Qtel buys share in firm

Qatar Telecom has acquired a stake in US managed service provider NavLink.

The operator said it had taken a 38.2% equity stake in NavLink to give it a greater global footprint.

Qtel said that the move would also help in its efforts to become a major player in the data space.

The purchase is one of a series of steps taken by Qtel as it seeks to increase its international investments in preparation for the end of its monopoly in Qatar and the introduction of competition on its domestic territory.

However, the operator’s consortium with Orascom and Malaysia’s Maxis Communications has dropped out of the bidding for India’s fourth largest mobile phone operator Hutchison Essar, according to a report by Indian newspaper The Economic Times.

Three bidders — Vodafone, Reliance Communications and the Essar Group — remain in the running for the Indian mobile operator.

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.