Saudi Telecom buys 35% of Oger Telecom for USD 2.6 billion (Saudi Arabia)

Saudi Telecom Co has agreed to acquire a 35 percent stake in Oger Telecom for USD 2.6 billion. Oger, which is controlled by Lebanon’s Hariri family, had been in talks to sell a stake to Vivendi, but the negotiations ended late last year without a deal. For the Saudi operator, the deal builds on its recent expansion abroad, which also includes a stake in Malaysia’s Maxis. Oger Telecom controls the mobile operators Cell C in South Africa and Zapp in Romania, as well as Turk Telecom and other fixed-line activities in the Middle East.

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