Vivendi talks to buy Oger Telecom fall through
Published November 20th, 2007
(TP) Vivendi will not buy a stake in Saudi operator Oger Telecom after all. The company issued a statement announcing that the negotiations had now ended. Vivendi CEO Jean-Bernard Levy recently said an announcement would come soon, however this was not the expected outcome, writes Les Echos. Vivendi now says it will continue to pursue its acquisition strategy in the best interest of shareholders, at acceptable prices and with clear opportunities to take control. Apparently, neither condition was met by Saudi Oger’s offer. Oger Telecom provides internet services in Saudi Arabia and is present in fixed and mobile telephony in Turkey, South Africa, Lebanon and Jordan.
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