By John Lee. Asiacell's $1.35 billion share sale will be fully subscribed, bookrunner Rabee Securities has told Reuters. Shwan Ibrahim Taha, chairman Rabee Securities, said: "I knew there would be interest, I just didn't know how much - I can say that we will easily cover it. We will be fully subscribed ... We are […]
By John Lee. According to a report from Bloomberg, Morgan Stanley is no longer a bookrunner for the IPO (initial public offering) of Asiacell, the Iraqi telecom operator majority-owned by Qatar Telecom (QTEL). A person with knowledge of the discussions told the news agency that, while Morgan Stanley is still an adviser on the deal, […]
Reuters reports that Qatar Telecom (Qtel) is to double its stake in Asiacell, Iraq's second biggest mobile operator, to 60 percent for $1.47 billion. Qtel will initially increase its stake to 53.9 percent from 30 percent, with a further increase pending Iraqi government and regulatory approval. Qtel did not identify the sellers of the stake, but […]
Reuters, citing banking sources familiar with the matter, reports that Qatar Telecom (Qtel) plans to buy out a private equity partner's 19-percent stake in Iraqi telecoms operator Asiacell. Qtel, the Gulf state's former monopoly, has a 30-percent stake in Asiacell, Iraq's number two operator, while its partner MerchantBridge owns 19 percent. Morgan Stanley is reportedly […]
Diabetics in Kuwait, Iraq and Palestine can now use their mobile phones to receive personalized alerts and information on exercise and diet, thanks to a new mHealth service being offered by Qtel Group companies there. Qtel Group will soon be offering this service in other countries where it is present. Representatives from the Qtel Group […]
Iraq's three main mobile phone companies - Zain Iraq, Asiacell and Korek - appear unlikely to meet a month-end deadline to list on the local stock exchange, raising the chances of them being penalised, according to Reuters. The companies are required by Iraqi law to launch initial public offerings on the Iraq Stock Exchange (ISX) by […]
Qatar Telecom (Qtel) has announced significant growth last year in its Iraqi Asiacell operations. Following on from the strong subscriber growth achieved in 2009, Asiacell has continued to increase its subscriber base this year leveraging its country-wide network. Asiacell's total subscriber base at 31 December 2010 stood at 8.1 million (FY 2009: 7.4 million). At […]
Qatar Telecom QSC, the country’s largest company by revenue, is mulling plans to sell shares to the public in its Iraqi unit in two years, according to its chief strategy officer. “We are beginning to think now about doing an IPO in Baghdad,” Jeremy Sell said at a presentation in the Qatari capital Doha today. […]
