In a move set to bolster Qatar’s position as a regional digital hub, Qatar Investment Authority (QIA) announced plans to merge the telecommunications businesses of Qatar National Broadband Network (QNBN) and Gulf Bridge International (GBI).
QNBN, Qatar’s leading passive fibre service provider, has a nationwide coverage of over 95 per cent, while GBI offers high-capacity connectivity solutions across the Middle East, Europe, and Asia.
By merging their strengths, QNBN and GBI aim to attract global hyperscalers and AI innovators to Qatar, offering a seamless gateway to interconnect within the Middle East region.
“With highly complementary assets and operations, our combined businesses will be better placed to capture the rapidly growing international connectivity opportunity to support our future growth ambitions, said Engineer Essa Bin Hilal Al-Kuwari, chairman of QNBN and GBI.
The combined entity will focus on maximising opportunities within the international data traffic market, leveraging its combined resources to drive innovation and expand its global presence.
The transaction is expected to close in Q4 2024, subject to regulatory approvals.
QIA’s decision aligns with Qatar government’s strategy
QIA’s CEO, Mansoor Ebrahim Al-Mahmoud, expressed the company’s commitment to Qatar’s Third National Development Strategy, stating that the merger would attract foreign direct investment and serve as a catalyst for economic diversification.
Al-Mahmoud added: “We aim to position Qatar as a leading digital hub both regionally and globally and connect Qatar to the world.”
Source: https://gulfbusiness.com/qatar-qia-merges-telecom-businesses-qnbn-and-gbi/