UPDATE 1-Qtel Eyes Buyout of Partner in Asiacell -sources

* Qtel eyeing Merchant Bridge's 19-pct stake in Asiacell
* Morgan Stanley advising Qtel, C.Suisse assisting MerchantBridge
* Sale likely before IPO
* Asiacell is Iraq's No.2 mobile operator (Adds details, background)

Qatar Telecom (Qtel) plans to buy out a private equity partner's stake in Iraqi telecoms operator Asiacell before offering shares in the company to ...

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