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Qatar seeks control of Oger Telecom
31 January 2012
Qatar reported in talks to buy Saudi Oger’s 55% control of Oger Telecom, which owns 55% of Türk Telecom
The Gulf state of Qatar has approached Saudi Oger, which owns around 55% of Oger Telecom, to discuss a potential takeover of the telecoms operator, reported Reuters.
Oger Telecom has a 55% stake in Türk Telecom and Avea, its mobile operation, and holds a 75% controlling stake in South Africa’s Cell C. STC, the Saudi operator, has 35% of Oger Telecom and has first refusal on any deal, says Reuters. The Turkish state owns 30% of Türk Telecom.
Reuters says that Qatar Telecom is not involved in the bid but may take a management position if it is successful.
A divestment of the Türk Telecom stake and changes to the Turkish operator’s ownership would require an offer to its minority stake-owners.
An unnamed source told Reuters that Qatar and STC could eventually end up “competing for the deal” adding that any company vying for a deal faces several “sticking points.” GTB
Further reading from Global Telecoms Business:
Saudi Telecom 'plans major acquisition' in 2012 24 Oct 2011
South Africa's Cell C plans national 42 meg mobile 17 Mar 2011
Oger seeks to boost Türk Telekom stake 23 Feb 2010
Turkey may sell Türk Telecom stake 07 Jan 2010
S Africa's Cell C to spend $660m on HSPA+ 10 Dec 2009
Oger wins bid for Turk Telecom stake 05 Jul 2005