Deals
Qatar's Ooredoo Is Said to Plan Rival Bid for Turk Telekom Owner
- Saudi Telecom is also said to be bidding to buy Otas
- Qatar is currently in a standoff with its Gulf neighbors
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Qatari phone carrier Ooredoo QSC decided to bid for the insolvent owner of Turkey’s biggest telecommunications company to rival an offer from Saudi Telecom Co., three people with knowledge of the matter said.
Ooredoo will seek to acquire Ojer Telekomunikasyon AS, or Otas, a special purpose vehicle that owns 55 percent of Turk Telekomunikasyon AS, said the people, who asked not to be identified because the matter is private. The Saudi proposal remains on the table, they said.