The decision to rebrand follows the company’s $3.9 billion expenditure on raising stakes in three subsidiaries over the last year.
Ooeredoo means “I want” in Arabic.
Qtel operates in 16 countries under several brand names, according to the stakes it has bought in various companies, but all operations which it owns a majority stake in are now expected to be rebranded as Ooredoo.
“It is our belief that we can better serve our global customers by leveraging the combined resources and assets of a strong, unified global business under one brand," said Nasser Marafih, chief executive at Qtel.
Soccer star Lionel Messi has been named global ambassador for Ooredoo and the company has agreed to support the Leo Messi foundation in return.
The name Ooredoo has caused some discussion on Twitter with some market watchers claiming its pronunciation could prove difficult.
However, at Mobile World Congress in Barcelona this week, HE Sheikh Abdullah bin Mohamed bin Saud al-Thani, chairman at Ooredoo reaffirmed his commitment to the rebrand.
“We have chosen an Arabic word that means ‘I want’ to reflect the aspirations of our customers and our core belief that we can enrich people’s lives and stimulate human growth in the communities where we operate,” he commented.
This growth follows the company’s bid to secure a $1 billion loan facilityearlier this year.
