Doha, Qatar, 30 Mar. 2016: Ooredoo Q.S.C. (“Ooredoo”) – Ticker: ORDS.QA – announced today that Ooredoo Kuwait has acquired 100 percent of FASTtelco shares in exchange for 11 million Kuwaiti dinars. All parties are continuing work to obtain necessary approvals from the regulators.
FASTtelco is a Kuwaiti limited liability company that operates as an Internet Service Provider.
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Ooredoo is a leading international communications company delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses across markets in the Middle East, North Africa and Southeast Asia. As a community-focused company, Ooredoo is guided by its vision of enriching people’s lives and its belief that it can stimulate human growth by leveraging communications to help people achieve their full potential. Ooredoo has a presence in markets such as Qatar, Kuwait, Oman, Algeria, Tunisia, Iraq, Palestine, the Maldives, Myanmar and Indonesia. The company was named “Most Innovative Company of the Year – MEA Region” at the 2015 International Business Awards.
The company reported revenues of USD 8.8 billion in 2015 and had a consolidated global customer base of 117 million customers as of 31 December 2015.