Vivendi, Oger Telecom end talks with no deal

French telecoms and media group Vivendi  said talks about buying a stake in telecoms group Oger Telecom had ended without a deal.

"Vivendi has announced that its discussions with Saudi Oger regarding an investment in Oger Telecom have ended," Vivendi said in a statement on Monday.

It added that it would continue to look for acquisitions "at an acceptable price, combined with clear prospects of control".

Oger Telecom is majority owned by Saudi Oger, which in turn is controlled by relatives of late Lebanese prime minister Rafiq Hariri.

The telecoms group provides fixed line, mobile and Web access in Turkey, Saudi Arabia, South Africa, Lebanon and Jordan.

As recently as Thursday Vivendi's chief executive Jean-Bernard Levy had said a deal was close.

During a presentation at the Morgan Stanley Technology, Media and Telecoms conference, Levy said: "I have control or I don't stay."

Vivendi said in September it was in talks with Saudi Oger about possibly buying a stake in Oger Telecom, which sources said would be of about 33% at first. (Reuters)

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM