Shareholders of Qatar International Cable Company (QICC) have publicly opposed the proposed acquisition by Aamal Group, signaling significant resistance to the transaction that was first announced in February 2026.
The statement, published in the Gulf Times, marks a sharp escalation in the corporate dispute, moving the matter from private negotiations to a public standoff between the bidder and the target's ownership base.
The opposition from QICC shareholders introduces substantial uncertainty into the deal's timeline and outcome.
While Aamal Group had previously indicated its intention to enter into negotiations for the acquisition, the current shareholder stance suggests that consensus has not been reached.
This development is critical for investors tracking the consolidation of Qatar's telecommunications infrastructure, as the failure of the deal could leave QICC as an independent entity or open the door for alternative suitors.
The dispute unfolds against a backdrop of broader economic activity in Qatar, where the government has recently signaled a return to normal levels for liquefied natural gas production.