Qtel To Increase Stake In Asiacell

Qatar Telecom (Qtel) appears set to increase its ownership of Iraq-based Asiacell, ahead of a planned sale of the venture's shares on the local bourse. Asiacell is a key revenue generator for Qtel and is essential to its plans to expand internationally, so its decision to increase its stake in the business is a sound, long-term investment. However, we caution that the fledgling Iraqi stock market may not yet be strong enough to support fast-growing yet capital-intensive high-technology companies and Qtel may not see a return on its investment in the short to medium term.

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