Vodafone Group said the Qatar Foundation would buy out its 51% stake in their Qatar joint venture for QAR 1.35bn (€301m).

Vodafone Qatar would continue to use the Vodafone brand and benefit from the expertise and assets of the UK company as part of a new partner market agreement, signed with an initial term of five years, Vodafone said.

'We have experienced great success over the years in building our joint business in Qatar and always enjoyed a strong working relationship with the Qatar Foundation,' Vivek Badrinath, chief executive Officer of Vodafone's Africa, Middle East and Asia-Pacific region said.

'As the company embarks in a new phase of its journey, we now look forward to continuing our involvement with the business through a long-term, branded partnership agreement and are committed to its ongoing success.'