Qtel Looking At Iranian Market

September 2008 | M&A News Alert

Qatar Telecom (Qtel), the exclusive telecommunications provider in Qatar, said on September 2 that it is studying the possibility of bidding for Iran's third mobile license, in an attempt to expand into new markets. In a statement to the Doha bourse, it said that 'as a communications market with a significant potential for growth and development, the Islamic Republic of Iran represents a potential area of investment opportunity'. At present Iran's population of 70mn is served by the state operator Iran Telecommunication Company (ITC) and Irancell, which is 49% owned by Sub-Saharan Africa's biggest mobile firm, MTN Group.

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