Vodafone Qatar says scraps bid for broadband firm: statement | Reuters

Vodafone Qatar says scraps bid for broadband firm: statement | Reuters:



"Vodafone Qatar VQFS.QA has scrapped its bid to buy state-owned wholesale Internet provider Qatar National Broadband Network (QNBN), the country's No.2 mobile operator by subscribers said on Sunday.



In October, Vodafone Qatar announced it had reached a non-binding agreement to buy QNBN, pending regulatory and other approvals.



Vodafone Qatar did not explicitly state why the deal had failed in a bourse statement, but said that "following a due diligence and negotiation process, the parties have determined not to proceed with the transaction"."



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