Qualcomm Sells Stake in Romanian CDMA Operator

Saudi Oger has brought out its partner in the Romanian CDMA450 operator, Telemobil - which trades under the brandname, Zapp. Saudi Oger, a group controlled by the family of the former Lebanese prime minister Rafic Hariri, is already one of Telemobil's shareholders through the investment fund Omnia Holdings, which owns 45.76% in Inquam, Telemobil's majority shareholder. Qualcomm also holds 45.76%.

Terms of the transaction were not disclosed, although the acquisition by Saudi Oger included 100 percent of QualcommÃ's interest in Inquam Limited.

Telemobil became the first wireless operator in the world to launch commercial 3G wireless telecommunications services using CDMA technology in the 450 MHz frequency band. Telemobil recently won a spectrum license in the UMTS 2100 MHz band and will shortly begin a major expansion of its network in that frequency band.

Following this acquisition Saudi Oger says that its priority is to focus on managing both Zapp Romania and Zapp Portugal.

There have also been some speculation that Saudi Telecom is seeking to take a stake of roughly one third in Oger Telecom, which is the telecoms holding company controlled by Saudi Oger. The company had attempted to sell a stake to France's Vivendi last year, but talks broke down.

The Mobile World database estimates that Telemobil ended last September with some 573,000 subscribers - which represents a market share of 2.7%.

Posted to the site on 14th January 2008