Qatar Telecom intends to pursue its rapid expansion policy to achieve its goal of becoming one of the world’s top 20 telecommunications companies by market capitalisation by 2020, its chairman said on Monday.

Sheikh Abdulla bin Muhammad bin Saud Al Thani told the Financial Times that QTel’s buying spree will continue unabated. Its market cap has more than quadrupled to $18bn from from $4bn and its presence has grown from one country to 16 in the past three-and-a-half years.