10 January 2010
A mistranslation of financial data by Qtel resulted in incorrect ownership stakes being reported in "Qtel, not individuals, owns WPT stake" in yesterday's edition.

Wataniya Palestine Mobile Telecommunications Company (WPT) is owned by National Mobile Telecommunications Company (NMTC) and the Palestine Investment Fund (PIF). On December 11, 2006, an agreement was signed to form the new mobile telecommunications company in Palestine, WPT.

Subsequently, Qtel acquired a 51 percent stake in NMTC. However, this should not be understood - as reported in the article - as a 51 percent stake in WPT.

© The Peninsula 2010