Qatar Telecom (QTel) has acquired a 51 per cent stake in Kuwait based telecom service provider Wataniya Telecom for approxi mately $3.7 billion.

Qatar Telecom (QTel) has acquired a 51 per cent stake in Kuwaitbased telecom service provider Wataniya Telecom for approximately $3.7 billion. Under the deal, Kuwait Projects Company Holding KSC, a private holding company, will sell its 51 per cent stake or 233.7 million shares in Wataniya Telecom, one of Kuwait’s two mobile operators, to QTel. Following the acquisition, Qtel will have an equity interest in operations in 11 countries in the Middle East and Asia.