Qatar Foundation to take Bharti board seat
Doha, May 4, 2013
Qatar will be taking a board seat and plans to be an active investor in Bharti Airtel, the Indian telecoms group in which one of its investment vehicles has agreed to buy a 5 per cent stake, a person close to the Qataris said.
"QFE (Qatar Foundation Endowment) will be taking a board seat and this shows that on this one they'll be active investors and will have a say on the company's future," the source said.
"Qatar is in for the very long term," the person added.
Through its various holding companies, Qatar owns stakes in a variety of companies but rarely plays a publicly active role. Last year, it surprised investors by forcing Glencore to raise its takeover offer for Xstrata.-Reuters
More IT & Telecommunications Stories
- Aruba names new EMEA vice president
- Survey to measure UAE mobile radiation levels
- Zain Bahrain on track to launch new network
- Microsoft assures foreign customers on spying
- Batelco wins ‘telecom deal’ award
- Samena summit focus on telecom issues
- US firm offers IT security software for SMBs
- US firm supplies biometric software to Saudi
- Du to support SMEs in Ajman
- Red Hat to launch new PaaS