Qatar's Ooredoo Is Said to Plan Rival Bid for Turk Telekom Owner - Bloomberg

Qatar's Ooredoo Is Said to Plan Rival Bid for Turk Telekom Owner - Bloomberg:

"Qatari phone carrier Ooredoo QSC decided to bid for the insolvent owner of Turkey’s biggest telecommunications company to rival an offer from Saudi Telecom Co., three people with knowledge of the matter said. Ooredoo will seek to acquire Ojer Telekomunikasyon AS, or Otas, a special purpose vehicle that owns 55 percent of Turk Telekomunikasyon AS, said the people, who asked not to be identified because the matter is private. The Saudi proposal remains on the table, they said. A purchase by Ooredoo would extend the Doha-based company’s record of expanding to serve about 150 million customers from Algeria to Myanmar, largely through acquisitions. The plan by Saudi Telecom, which owns 35 percent of Otas’s parent, Oger Telecom, involves buying the company via a $750 million cash injection and committing to restructure a further $4 billion of debt."



'via Blog this'