Vodafone Qatar to acquire broadband player QNBN

03 October 2014 | Kavit Majithia


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.