‘Hard’ Sell pitches Qtel public share offers in Iraq, Tunisia

8 Dec 2010

The chief strategy officer of Qatar Telecom (Qtel), Jeremy Sell, has announced plans to sell shares to the public in the group’s Tunisian unit in 2011 and its Iraqi division in two years time, reports Bloomberg. ‘We are beginning to think now about doing an initial public offering (IPO) in Baghdad … We are going to start now. We are going to start planning for an IPO that is two years away,’ said Sell, adding that the IPO in Tunisia would probably happen next summer. Last month, Qtel and Princesse Holding of Tunisia agreed to buy Orascom Telecom Holding’s 50% stake in Tunisiana for USD1.2 billion to take full control of the company. Asiacell, Qtel’s Iraqi mobile division, delivered sales of QAR3.7 billion (USD1.0 billion) in the first nine months of this year, a year-on-year growth rate of 28.9%, whilst the cellco’s EBITDA in the period also improved y-o-y by 32.7% to QAR2.1 billion.

Iraq, Tunisia, Asiacell, Ooredoo Group, Ooredoo Tunisia (incl. Tunet)