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Posted On: 18 March 2009 08:24 am
Updated On: 12 November 2020 02:09 pm

Vodafone Qatar woos investors

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Customers and potential investors have reacted positively to the prospect of buying shares in Vodafone which will be the latest IPO to be listed on the Doha Stock Market when it opens for subscriptions next month. At a ceremony held on the Corniche yesterday evening, government and company officials assembled to see a presentation about the IPO, during which Vodafone Qatar chairman HE Sheikh Abdulrahman bin Saud al-Thani and CEO Graeme Maher explained how the IPO will work. Maher also announced that Vodafone Qatar and Qtel signed an inter-connection agreement on Monday, which will allow Vodafone customers to call Qtel mobile numbers and vice-versa. Gulf Times spoke to a number of potential customers and investors at the event, with all of them expressing their excitement at the opportunity this IPO will present the Qatari public. Businessman Mohamed al-Qashouti said he was “definitely interested in investing” and that the establishment of Vodafone in Qatar was “a great thing.” “It is time that there was some competition in the telecommunications market,” he said, adding “following the recent financial crisis I think now is the right time to invest in the stock market.” “There is only one other telecommunications company in Qatar, and depending on the services they offer, I think Vodafone will prove to be a success here as well,” he added. Jassim Abdulaziz said that he was interested in investing in the company, and declared his excitement at the opportunity to become a Vodafone customer in the coming months. “It is good that they are bringing competition to Qatar,” he said, adding “I will definitely be subscribing to Vodafone when they are launched.” Although a novice in the stock market, he said that “the prospect of procuring shares in Vodafone Qatar is something he is seriously looking into, and represents an opportunity not to be missed.” A local member of staff at Vodafone, Rashid al-Merri said that the company would bring great things to the telecommunications market, and although with the current timing and the global financial crisis the launch of the IPO may be a little “risky,” he claimed that the global expertise and services offered by the company will ensure its success. Delighted with the opportunity to work for Vodafone, al-Merri explained that both as an employee and a consumer he is eagerly anticipating the launch of their services and the start of the “excellent customer services that Vodafone Qatar” will offer.