Vodafone Qatar scraps QNBN deal

Vodafone Qatar has scrapped its previously announced bid to buy state-owned wholesale fibre broadband network provider Qatar National Broadband Network (QNBN), the UK-backed cellco said in a stock market statement on Sunday, as reported by Reuters. In October, Vodafone Qatar reached a non-binding agreement to buy QNBN pending regulatory and other approvals, but the latest announcement says that ‘following a due diligence and negotiation process, the parties have determined not to proceed with the transaction,’ without giving any further reasons.