Head: Singapore s ST Telemedia, Qatar Tel partner for third license
SINGAPORE: Singapore Technologies Telemedia (ST Telemedia), a leading information-communications company, and Qatar Telecom QSC (Qtel), one of the Middle East’s growing telecommunications companies, announced their joint venture to bid as a consortium for the third Public Land Mobile Network license in the Arab Republic of Egypt. The joint venture was formalized at a signing ceremony of a Memorandum of Understanding (MoU) by Qtel’s CEO Nasser Marafih and ST Telemedias President and CEO Lee Theng Kiat. Under the terms of the MoU, the parties agree to co-operate in the bid for the license through the establishment of a joint venture which Qtel will be majority. ST Telemedia and Qtel will provide the required resources and expertise to the joint venture to build, manage and operate the mobile network in Egypt. Based on Qtel and ST Telemedias combined operating experience and expertise in over 30 countries across the Middle East, Asia Pacific, Europe and the Americas, and with close to 17 million mobile subscribers, Qtel and ST Telemedia are confident of delivering high quality and affordable services to the Egyptian consumers and to support the development of Egypt’s workforce and telecommunications sector. The deadline for the submission of the bid is May 4, 2006. Reuters
