Oger takes stake in Zapp

29 Oct 2007

Saudi Arabian conglomerate Saudi Oger is taking a 45.76% stake in the Romanian 3G operator Zapp. It is acquiring the stake from the Telemobil group which is controlled by equipment manufacturer Qualcomm, reports the Business Standard. Zapp currently offers services to around half a million subscribers over a CDMA-450 network, but also holds a licence to offer W-CDMA 3G services. ‘The acquisition will be followed by significant financing, which will allow us to implement our plans,’ said Piermario Di Pietro, Zapp’s CEO. Saudi Oger, via its UAE-based holding vehicle Oger Telecom, controls Turkey’s Turk Telekom and its mobile subsidiary Avea, as well as South African cellco Cell C and Cyberia, an internet service provider in Saudi Arabia, Lebanon and Jordan. Saudi Oger is controlled by the family of the late Lebanese prime minister Rafiq Hariri. Saudi Oger also owns the Omnia Holding investment fund, a co-owner with Qualcomm of the Inquam group, which currently owns 99% of Telemobil.

Romania, Qualcomm, Turk Telekom, Zapp (Romania)