Vodafone Qatar drops QNBN bid
01 December 2014 |
Vodafone Qatar has abandoned its bid to buy state-owned wholesale internet provider Qatar National Broadband Network (QNBN).
The country’s second-largest mobile operator announced in October this year that it was to acquire QNBN, but yesterday, and with minimal detail, the company revealed that these plans had fallen through.
“Following a due diligence and negotiation process, the parties have determined not to proceed with the transaction,” Vodafone Qatar said in a statement.
QNBN began rolling out a fibre network in Qatar in 2012, and has contracts with both Vodafone Qatar and Ooredoo for the implementation. Analysts believe this was designed to prevent duplicated infrastructure between the two rivalling operators.
Vodafone Qatar appointed Kyle Whitehill as CEO at the company in April last year.
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