Qatar Telecom to Double Asiacell Stake for $1.47 Billion

Qatar Telecom QSC said it reached agreements to double its holding to 60 percent in Asiacell, a mobile operator in Iraq, for $1.47 billion as the company seeks to expand outside its home base.

Qatar Telecom will initially increase ownership to 53.9 percent and raise that further after approval from Iraq’s government and regulators, according to an e-mailed company statement today. The transaction will be financed from existing funds, it said, without saying who is selling the stake.