Qatar Telecom Offers $2.2B For Unowned Kuwaiti Co. Stake

Law360, New York (August 16, 2012, 6:58 PM EDT) -- Qatar Telecom QSC has received government approval for a $2.2 billion tender offer to purchase the 47.5 percent of a Kuwaiti telecommunications firm that it does not already own, Qatar Telecom said Thursday.

The firm, also known as Qtel, will now go forward with plans to acquire the outstanding minority stake of National Mobile Telecommunications Co. KSC, also known as Wataniya Telecom, it said. Qtel has offered Wataniya's other stakeholders, including a Kuwaiti sovereign wealth fund, roughly 2.6 dinars ($9.20) for each share of Wataniya....
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