National Mobile Telecom Rises to 3-Month High After Qtel Offer
By Zahra Hankir -
2012-08-22T11:12:33Z
National Mobile Telecommunications Co. (NMTC), also known as Wataniya, rallied to the highest level since May after Qatar Telecom QSC offered $2.2 billion for the remaining stake in the company.
The shares, which were suspended from trading since the offer was announced, gained 4.6 percent to 2,300 fils, the highest since May 17, at the close in Kuwait.
Qatar Telecom, majority owned by the gas-rich country’s government, will pay 2.6 dinars ($9.2) each for the 239.4 million shares it doesn’t own, it said in a statement Aug. 16.
To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net
To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net
Sponsored Link
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.