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Saudi Oger bought Zapp mobile phone operator

Saudi Oger Ltd. from Saudi Arabia bought, from its partner Qualcomm Incorporated, 50 per cent of its participation into the company Inquam Limited, Zapp owner, a press release issued on Friday by Zapp reads, cited by Rompres.

Telemobil SA, a subsidiary of Inquam Limited, supplies, in Romania, data mobile and 3G voice services, under the name of Zapp, being bought in 2000 by Inquam, a company which had Saudi Oger Limited and Qualcomm Incorporated shareholders with equal participations. Saudi Oger Ltd. is also the main shareholder of Oger Telecom, a leader in the emergng markets. The acquisition of Telemobil SA refers to the acquisition of Qualcomm participation into Inquam Limited in a share of 100 per cent, without any other terms of this transaction to be revealed. Telemobil is the first CDMA operator worldwide which has launched 3 G commercial services in the frequency band of 450 MHz. Telemobil has recently won the spectrum license UMTS in a band of 2100 MHz and it shortly starts expanding massively its network using this frequency. Following this acquisition, Saudi Oger group stays focused on development and value added creation both for the shareholders and for Zapp Romania, as well as Zapp Portugal, employers. In 2005, Saudi Oger paid EUR 5.5 bln. for 55 per cent of Turk Telecom. Saudi Oger is the owner of Oger Telecom operator, active in Saudi Arabia, Lebanon, Jordan, South Africa and Turkey, with revenues of EUR 5.79 bln. Zapp reported, at the end of June 2007, slightly over 500,000 subscribers, estimating to reach over 600,000 at the end of 2008. The company representatives estimate the maintenance of a growth rate of 100,000 subscribers annually. Sursa: http://www.nineoclock.ro

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