Vivendi closes in on Oger Telecom stake

16 Nov 2007

French media and communications group Vivendi is nearing an agreement to buy a stake in Saudi-owned, UAE-based telecoms holding venture Oger Telecom, reports Les Echos, quoting Vivendi CEO Jean-Bernard Levy, who said that ‘negotiations were on the right path’. Oger Telecom owns a controlling stake in Turk Telekom and has other interests in Saudi Arabia, South Africa, Lebanon and Jordan. In June, Telecom Italia sold a 10.36% stake in Oger Telecom for USD477 million. Vivendi controls French fixed line and mobile operator SFR and Moroccan incumbent Maroc Telecom. Oger Telecom’s parent Saudi Oger has said it wants to keep a majority stake until November 2008.

Saudi Arabia, United Arab Emirates, Turk Telekom