“The company has taken this decision because of consistently low volume trading of its shares on the BSE and the incremental administrative requirements inherent in the group’s multiple share listings necessitated by its expansion in multiple international territories,” said the statement.

Qtel listed on the Bahrain Stock Exchange, the smallest national stock market in the GCC, in 2001.

In late January, the telecoms operator said that it would not increase its leverage to fund future acquisitions, but it may try to repeat last June’s rights issue on the Doha Securities Market as a means to raise finance (MEED 30:1:09).

Qtel will retain its secondary listing on the Abu Dhabi Securities Exchange.