Qtel Offers $2.3 Billion for Wataniya Shares, Al-Rai Says

Qatar Telecom QSC offered to pay about 640 million dinars ($2.3 billion) to purchase shares it doesn’t own in Kuwait’s National Mobile Telecommunications Co., Al-Rai newspaper reported today, citing unidentified people familiar with the matter.

Qatar’s biggest phone company, which holds a 52.5 percent in the Kuwaiti operator, also known as Wataniya Telecom, offered 2.67 dinars a share, the newspaper said.

To contact the reporter on this story: Dahlia Kholaif in Kuwait at dkholaif@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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