Oger Telecom to sell stake to Vivendi (UAE)
December 15, 2007
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UAE-based telecom company Oger Telecom is close to signing an agreement to sell 33 per cent stake to French media and communications group, Vivendi. Saudi Oger, in which Oger Telecom owns majority stake, provides fixed line, mobile and web access services in Turkey, Saudi Arabia, South Africa, Lebanon and Jordan. Buying stake in Oger will enable Vivendi to expand into these countries. In June 2007, Telecom Italia sold 10.36 per cent stake in Oger Telecom for $477 million.
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