KIPCO Group and their clients/affiliates got a sizable bounty from selling their controlling interest in Wataniya Telecom to Qatar’s Qtel: 48% premium above market price on date of agreement to be exact. But some missed out on the party. That is the minority shareholder: the other 49%.
If you happen to be one of the minority shareholders –i.e. no relation with KIPCO- and got over the initial excitement of the transaction only to see your share plunge in the aftermath you would probably think it is not fair. Apparently KIPCO invited its clients and affiliates to tag along on the deal and share in the prize. Some regulations and shareholders' agreements in other countries make this a law. The minority shareholder has a tag along rights when an offer is made to acquire majority share. Had this been the case Qtel would have been obliged to invite all shareholders to the offer and split the control premium. You and I definitely would have been better of. But just like in politics, markets don't always respect minority rights.