S&P: Qtel not affected by 50% Tunisiana acquisition

24 November 2010

Standard & Poor's Ratings Services said today that its ratings and outlook on Qatar Telecom (Qtel) (A/Stable/A-1), incumbent fixed-line and mobile telecoms operator in the State of Qatar (AA/Stable/A-1+), are not affected by Qtel's announced signing of an agreement with a consortium led by Tunisian Princesse Holding to acquire from Orascom's 50% stake in mobile operator Orascom Telecom Tunisie S.A. (Tunisiana) for about $1.2 billion cash. Tunisiana leads among Tunisia's mobile operators and on June 30, 2009, had a 52.9% subscriber market share.

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