19 Jan 2007
Qatari incumbent national operator Qatar Telecom (Qtel) is investing USD635 million in cash for an approximately 25% stake in Singapore Technologies Telemedia (ST Telemedia) unit Asia Mobile Holdings (AMH). The deal forms part of an alliance between the pair to explore and develop new mobile telecoms opportunities in the Asia-Pacific region. The deal, signed on 12 January, leaves ST Telemedia in control of AMH with the remaining 75% of the firm. AMH will be used as a vehicle to promote the two companies’ mobile investments in key markets in the region. The unit already controls ST Telemedia’s equity interests in Singaporean operator StarHub and Indosat in Indonesia. The alliance with Qtel will not impact on the Singaporean firm’s existing and potential investments in North America, Europe or other regions.