OOREDOO KUWAIT STRIKES $29M ISP DEAL

Capacity - - Middle East -

Ooredoo Kuwait has reached an agree­ment to buy 99% of Fast­telco’s shares in a deal worth KD11 mil­lion (£29 mil­lion). The ac­qui­si­tion of the ISP, which was set up in 2001, is sub­ject to ap­proval from reg­u­la­tors but will see both brands con­tinue to co-ex­ist as sep­a­rate en­ti­ties in the “fore­see­able fu­ture”.

Fast­telco of­fers turnkey in­ter­net, lo­cal and in­ter­na­tional data com­mu­ni­ca­tion so­lu­tions, plus lo­cal and in­ter­na­tional ter­mi­na­tion ser­vices for for­eign car­ri­ers.

“This is a ma­jor mile­stone for Ooredoo show­ing strong com­mit­ment to en­hance peo­ple’s lives. All stake­hold­ers will ben­e­fit from this com­pli­men­tary trans­ac­tion, es­pe­cially our busi­ness and res­i­den­tial cus­tomers, who will have ac­cess to the full scope of our ad­vances mo­bile and fixed broad­band ser­vices,” said Ooredoo Kuwait CEO Sheikh Mo­hammed bin Ab­dul­lah Al Thani. We will in­vest to pro­vide the best end-to-end cus­tomer ex­pe­ri­ence.

Sheikh Mo­hammed bin Ab­dul­lah Al Thani: Best end-to-end client ex­pe­ri­ence

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