QTEL PARTNERS WITH ST TELEMEDIA TO BID FOR EGYPT’S 3RD GSM LICENSE
Qtel announced its joint venture partnership with Singapore Technologies Telemedia (ST Telemedia), a leading information-communications company, to bid as a consortium for the third Public Land Mobile Network licence in the Arab Republic of Egypt.
The joint venture was formalised yesterday at a signing ceremony of a Memorandum of Understanding (MoU) by Qtel’s CEO Dr Nasser Marafih and ST Telemedia’s President & CEO Mr Lee Theng Kiat. Under the terms of the MoU, the parties agree to co-operate in the bid for the licence through the establishment of a joint venture which will be majority owned by Qtel. Qtel and ST Telemedia will provide the required resources and expertise to the joint venture to build, manage and operate the mobile network in Egypt.
Qtel CEO Dr. Nasser Marafih said, “Based on Qtel and ST Telemedia’s 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, we 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 proposal submission is May 4th 2006.