Vodafone Qatar to acquire broadband player QNBN
Vodafone Qatar is set to acquire state-owned company Qatar National Broadband Network (QNBN).
The company has signed a non-binding agreement for the deal, and hopes to complete the acquisition by the end of 2014.
Qatar’s second-largest operator will acquire 100% of QNBN for approximately 210 million riyals ($57.6 million), valuing the broadband company at approximately $2.75 per share.
QNBN – which already provides wholesale broadband services to Vodafone Qatar and Ooredoo – began rolling out its fibre network across Qatar in 2012.
It expects to complete the build-out in 2015.