Oger Telecom, 35-per cent owned by Saudi Telecom, will inject $180 million into its South African subsidiary Cell C to improve the coverage and quality of the unit's network, the Dubai-based firm said.
Cell C has about 13 per cent of t
Qatar, eager to boost its footprint in Turkey, has made a takeover approach to the majority owner of Oger Telecom, which owns a controlling stake in Turk Telecom, sources said.
Qatar has directly approached Saudi Oger - owned by the family
Saudi Telecom Company saw its fourth-quarter net profit edge down 0.3 percent as foreign currency losses hit its annual income, but the operator still beat forecasts.
The former monopoly holder made a net profit of 2.28 billion riyal
Saudi Telecom Co, the largest Arab telecom firm by market value, said it had agreed a $2.6 billion deal to buy 35 percent of Oger Telecom, gaining access to markets from Turkey to South Africa.
Oger, controlled by the family of late Lebane
Oger Telecom has announced its strong results for the year ended December 2006. Oger Telecom reported total group revenues for the year of $5.79 billion ($6.86 billion on a proforma basis1) with an operating profit of $1.346 billion,