Qatar Telecom (Qtel) Chief Strategy Officer Jeremy Sell told Al-Qabas daily in an exclusive that the telco seeks to purchase the remaining shares of Wataniya Telecom to ensure a better decision-making process and smoother government procedures, especially when the telco plans to venture into a new investment and lift its stake in a subsidiary.

Sell added that the deal gives Wataniya’s shareholders a good opportunity to offload their shares at a reasonable price, given that the KWD 2.600 is 25.6% above the stock's weighted average price for the period that ended on June 21, 2012.

The top official also unveiled Qtel's plans to raise its equity in Wataniya Telecom Algérie (Nedjma) as well as Wataniya’s other overseas subsidiaries.