Home Industry Telecoms Qatar: QIA to merge telecom businesses to create digital infrastructure giant The integration will drive positive impacts for Qatar’s economy and consumers, enhancing the country’s digital infrastructure ecosystem and global position as a digital hub by Gulf Business October 2, 2024 Image: Getty Images 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.” Read: Qatar wealth fund expands into Australia, Korea and Southeast Asia Tags Gulf Bridge International Qatar Investment Authority Qatar National Broadband Network Telecoms You might also like Du shines the spotlight on AI, digital innovation at Envision 2024 e& Group secures EU approval to buy Czech PPF’s telecoms assets Qatar wealth fund expands into Australia, Korea and Southeast Asia Qatar in talks on possible purchase of Rosneft stake in German refinery, report says