Qatar Telecom (Qtel) announced today repaying a $3 billion syndicated loan using existing funds.

The telecom operator had submitted an offer worth $2.2 billion to acquire the remaining 48% equity of Wataniya Telecom.

Wataniya stated that its board discussed Qtel's bid and the independent report presented by Protiviti. Accordingly, board members found that the price offered by Qtel is fair and suitable to shareholders who are interested in participating in the deal.