Qtel to purchase shares in Wataniya Kuwait

Qatar Telecom (Qtel) QSC ("Qtel") on Tuesday confirmed it has submitted an offer document for approval from the Kuwait Capital Market’s Authority ("CMA"), which may lead to an offer for all the issued shares of National Mobile Telecommunications Company KSC ("NMTC" or "Wataniya Telecom" or "Wataniya") not already owned by Qtel. The proposed offer is in line with Qtel’s strategy to simplify the Group structure while providing an attractive offer to minority shareholders. Any offer would be subject to the relevant regulatory approvals. This is not an offer for the purchase of shares. The CMA has taken the decision to suspend trading in Wataniya’s shares while the CMA reviews the offer document. Further updates will follow in due course. The Qtel Group is a leading international communications company, with a significant presence in the MENA region and Southeast Asia, and having a consolidated customer base of 84 million as of March 2012. It operates a portfolio of brands including Qtel, Indosat, Asiacell, Wataniya, Nawras, Nedjma and Tunisiana. (QNA)