Qtel plans Iraqi buyout

Published on 03.02.2012

Qatar Telecom (Qtel) is being advised by Morgan Stanley on buying out Merchant Bridge’s stake in its Iraqi affiliate, Asiacell, before launching a public offering in Iraq, according to a report from Reuters.
Qtel, which has a 30% stake in Asiacell, plans to buy out the 19% stake in Asiacell that is currently owned by the UK private equity firm, MerchantBridge, according to the report which quoted unnamed bankers.
The sale of MerchantBridge's stake would be expected to occur during early 2012 as each of Iraq’s three GSM operators is due to stage an IPO in 2012.
Morgan Stanley is advising Qtel, while MerchantBridge is being advised by Credit Suisse, the report added.In October, Asiacell appointed HSBC and Morgan Stanley to manage its IPO.