Incumbent Qatar Telecom (QTel) has upped its stake in Singapore’s second largest mobile network operator StarHub by about 1.87%.
The stake increase was conducted via Asia Mobile Holdings (AMH), an investment company owned by QTel and Singapore…
Incumbent Qatar Telecom (QTel) has upped its stake in Singapore’s second largest mobile network operator StarHub by about 1.87%.
The stake increase was conducted via Asia Mobile Holdings (AMH), an investment company owned by QTel and Singapore Technologies Telemedia, itself controlled by Singapore’s investment firm Temasek Holdings.
AMH acquired an extra 842.9 million shares from Aranda Investments, which also belongs to Temasek, bringing its stake to 56.55% from 49.11%.
QTel, which owns a 25% stake in AMH, therefore increased its stake in StarHub to 14.14% from 12.27%. Further financial details were not disclosed.
As for Temasek, the firm indirectly sold a 7.45% stake in StarHub, via Aranda, but also acquired a 5.59% in the Singaporean telco via AMH.
In a statement, QTel CEO Nasser Marafih said: “We will look to take advantage of further growth opportunities to develop our presence in South East Asia as they arise.”
QTel is already present in Indonesia with its stake in telco Indosat.
The Qatari company could not be reached for comment before the press deadline.
