Saudi Telecom invests $2.56 billion in Oger

Saudi Telecom is spending $2.56 billion for a 35% stake in Turkey's Oger Telecom, the latest move in an increasingly active Middle East telecom sector. Oger Telecom has been looking to sell the stake for some time and had been talking to France's Vivendi about a major investment until those talks broke down late last year. Saudi Telecom is the largest telco in the Middle East, but is facing more competition from Kuwait's Zain and others, increasing the pressure on Saudi Telecom to expand into new markets.

For more:
- check out this report at Light Reading

Related articles:
- Vivendi and Oger ended their investment talks last November 

Suggested Articles

On Tuesday, Arista Networks announced new capabilities and integrations on its CloudVision 2019 software platform to help organizations reduce their…

Stephenson credited the company’s efforts to virtualize 75% of its core network functions as paying off in big cost savings.

Megaport has expanded the footprint of its flagship virtual routing platform, Megaport Cloud Router (MCR), and added more capabilities.