QTEL announces new deal in Asia

Qatar Telecom (QTEL) announced that Asia Mobile Holdings (AMH), an investment company jointly owned with Singapore Technologies Telemedia (ST Telemedia) which focuses on investment opportunities in the Asia Pacific region, has executed a Share Purchase Agreement with Aranda Investments, and has acquired a further 7.45% of StarHub Ltd (StarHub). The deal increases (AMH) total stake to 56.55% and QTEL''s effective stake to 14.14%. StarHub is a fully integrated communication company based in Singapore, offering a full range of information, communications and entertainment services for both consumer and corporate markets. The QTEL Group Chief Executive Dr. Nasser Marafih said that deal is "part of our strategy. We continue to review our portfolio on an ongoing basis and look where possible to increase our holdings in existing assets". "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," He added.