Qtel ups StarHub stake

16 Nov 2011

Reuters reports that Qatar Telecom (Qtel) has purchased shares equivalent to a further 7.45% of StarHub, Singapore’s second largest telecoms operator. The acquisition was carried out through Asia Mobile Holdings, Qtel’s joint venture with Singapore Technologies Telemedia (STT). Qtel CEO Nasser Marafih said: ‘We are pleased to have increased our holding in StarHub, in conjunction with our partners ST Telemedia and we will look to take advantage of further growth opportunities to develop our presence in South East Asia as they arise.’ It is understood the transaction was completed through a share purchase agreement with Aranda Investments, a subsidiary of Singapore state investor Temasek. No financial details were provided, but as a result of the deal Asia Mobile Holdings now controls 56.55% of the Singaporean operator.

Singapore, Ooredoo Group, StarHub