Singapore, 6 April 2006 - Singapore Technologies Telemedia (ST Telemedia), a leading information-communications company, and Qatar Telecom QSC (Qtel), one of the Middle East's growing telecommunications companies, today announced their joint venture 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. ST Telemedia and Qtel will provide the required resources and expertise to the joint venture to build, manage and operate the mobile network in Egypt.
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, Qtel and ST Telemedia 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 submission of the bid is 4 May 2006.