Qtel invests in ST Telemedia

Qatar Telecom has forged a strategic alliance with Singapore Technologies Telemedia (ST Telemedia).

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By  Administrator Published  January 25, 2007

Qatar Telecom has forged a strategic alliance with Singapore Technologies Telemedia (ST Telemedia).

The telco operator has invested US$635million for an approximate 25% equity sake in ST Telemedia's Asia Mobile Holdings unit.

In a statement, the companies said the alliance would be used to explore and invest in new mobile telecoms opportunities while strengthening existing businesses in the Asia Pacific region.

Qtel CEO Nasser Marafih said the partnership was the next step in Qtel's growth strategy; allowing the operator, which is preparing for the end of its monopoly on its domestic turf, to gain presence in two key markets, Singapore and Indonesia.

"We believe that Asia-Pacific is a high growth region and is one of the main areas we have targeted for expansion. We are excited about the prospects of growth in the region and believe ST Telemedia is an ideal partner for this endeavour," Marafih commented.

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