Qatari sovereign wealth fund reportedly interested in Saudi Oger

The government of Qatar is reported to have approached Saudi Oger about a deal to buy its 55 per cent stake in Oger Telecom, which owns a controlling 55 per cent stake in Turkey based Turk Telecom.

Oger Telecom also owns a 75 per cent stake in South Africa’s third mobile network, Cell C.

Citing sources familiar with the talks, Reuters said that Qatar – through its sovereign wealth fund – had made a direct approach to Saudi Oger about a deal.

Saudi Telecom Co. (STC) owns a 35 per cent stake in Oger Telecom, and has a right of first refusal if Saudi Oger were to look to sell its 55 per cent stake in the company.

The Qatar government also holds a majority stake in Qtel, although the deal is not thought to be involving the telco at this point.