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Ooredoo Q.S.C. - Ooredoo Subsidiary Sale of Wi-tribe Pakistan

Tue 29th March, 2016 7:00am
RNS Number : 3144T
Ooredoo Q.S.C.
28 March 2016

Ooredoo Q.S.C.

Ooredoo Subsidiary Concludes Sale of Wi-tribe Pakistan

Doha, Qatar, 27 March 2016: Ooredoo Q.S.C. ("Ooredoo") - Ticker: ORDS - announced today that its subsidiary wi-tribe limited concluded the sale of wi-tribe Pakistan to HB Offshore Investment Ltd. for a cash amount of approximately QAR 32.7 million, in line with the carrying value of the asset. HB Group is well established within the telecommunications sector in Pakistan, and is planning to expand further.

For further information:

Email: IR@ooredoo.com

Follow us on Twitter: @OoredooIR

- Ends -

About Ooredoo

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. Ooredoo's shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.

wi-tribe Ltd.is a subsidiary of Ooredoo QSC and is registered in the Cayman Islands

About HB Offshore Investments

HB Offshore Investments Ltd is registered in Mauritius under the umbrella of the HB Group International, which is a privately owned multinational business. HB Group is well established within the telecommunications sector in Pakistan with a commitment to investing in technology, and to constant innovation in order to maximise customer experience and choice.

This information is provided by RNS
The company news service from the London Stock Exchange
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