Saudi Oger Buys Telemobil

Acquires Romanian operator Telemobil from Qualcomm

January 14, 2008

1 Min Read

RIYADH, Saudi Arabia -- Saudi Oger Ltd. is happy to announce that it has acquired from its long-term partner, Qualcomm Incorporated, its 50% shareholding interest in Inquam Limited. Telemobil SA, a subsidiary of Inquam Limited, provides 3G wireless voice and data services in Romania under the trade name ZAPP, was acquired in 2000 by Inquam, a company jointly owned by Saudi Oger Limited and Qualcomm Incorporated. Saudi Oger Ltd. is the majority shareholder of Oger Telecom, a leading telecom operator in developing markets. Terms of the transaction were not disclosed, although the acquisition by Saudi Oger included 100 percent of Qualcomm’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’s priority is to focus on managing both Zapp Romania and Zapp Portugal. Saudi Oger remains fully committed to both assets and to building value for its shareholders and employees. Saudi Oger is pleased with its relationship with QUALCOMM and look forward to their continuous support through the development of advanced CDMA and WCDMA based wireless solutions at 450 MHz and 2100 MHz.

Saudi Oger Ltd.

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