Vodafone Qatar cancels acquisition bid for Qnbn

(MENAFN) Vodafone Qatar announced its decision to cancel is bid to acquire Internet provider Qatar National Broadband Network (Qnbn), The Peninsula Qatar reported.

In October, Vodafone entered into a non-binding Heads of Agreement with Information Communication Technology Holdings QSC to acquiring the entire issued and paid up share capital of Qnbn.

"Following a due diligence and negotiation process, the parties have determined not to proceed with the transaction", Vodafone Qatar said in a press note form published.