Etisalat spent USD18.7m to keep 1% Qtel stake

30 May 2012

UAE-based telecoms group Etisalat bought Qatar Telecom (Qtel) shares worth USD18.7 million in the Qatari firm’s fully subscribed USD1.87 billion rights issue, it revealed in a statement to the Abu Dhabi Securities Exchange, reported by Emirates newspaper The National. Ahead of its latest purchase, Etisalat had held a 1% stake in Qtel via the stock market since 1998, and its participation in the rights issue means that it keeps the same percentage share of equity.

Qatar, Etisalat UAE, Ooredoo Group, Ooredoo Qatar