Vodafone Qatar to buy QNBN for US$57 million

Vodafone Qatar announced a non-binding agreement to buy state-owned Qatar National Broadband Network (QNBN).

The deal could be worth around US$57 million, reports Reuters, which would see Vodafone Qatar fully own the broadband operator.

QNBN already has wholesale broadband agreements with both Vodafone Qatar and Ooredoo.

Vodafone said the combination of the two companies would “enable Vodafone Qatar to deliver the benefits of choice to customers in the fixed-line market in Qatar”.

The deal is subject to regulatory approval, which, “subject to all conditions being fulfilled”, Vodafone Qatar expects will be given and the transaction completed on or before December 31, 2014.

Vodafone Group has a 22 per cent stake in the Qatari operator and state-run Qatar Foundation holds another 22 per cent. The remaining shares are listed.

The deal to buy QNBN is the latest in a series of broadband purchases made by the UK-headquartered group as it seeks to bolster its portfolio of triple and quad-play services.