NEWS
QATAR
Qatar fund set to buy major stake
in Ireland’s telecom firm, Eir
Qatar’s sovereign wealth fund is
set to buy a major stake in Irish
telecoms firm Eir, the Irish Times
reported, in a move that would likely
support its plans to hold off from a
stock market flotation for now.
The Qatar Investment Authority
(QIA) is on course to acquire
York Capital, Eir’s second-largest
shareholder’s stake of about 15%,
in addition to a number of smaller
shareholdings owned by other
hedge funds, the newspaper said,
without quoting any sources.
The Irish Times said it understood
New York hedge fund Anchorage,
which owns almost 38% of
the company formerly known
as Eircom, would remain the
largest shareholder following the
transaction.
Ooredoo signs
agreement with
Mobimedia
International
Ooredoo has announced a group
strategic agreement with digital
consumer technology company
Mobimedia International to launch a full
suite of mobile consumer services across
its footprint in the Middle East, North
Africa and Southeast Asia.
QIA, estimated by industry tracker
Sovereign Wealth Fund Institute
to hold $256 billion of assets, is
known as an investor in high-profile
particularly given the rich library of
content available, tailored to a wide
range of tastes.
The mJams app provides a convenient
and high-quality way for customers to
enjoy the latest local and international
music directly from their handset. With
just a smartphone, customers can access
any song from mJams’ library of music
and playlists and, by deploying the
service over Ooredoo’s world-class mobile
data networks, the mJams app delivers
an incredible listening experience.
The agreement follows the two
companies’ successful collaboration in
launching the mJams Music Streaming
app in Myanmar earlier this year. With real time data aggregation, mJams’
content is constantly optimised to reflect
the trends and tastes of its users, creating
a nationwide database of the most
popular music.
Ooredoo anticipates strong demand
for the mJams app in other markets, Waleed Al Sayed, Deputy CEO, Ooredoo
Group, said: “We are constantly looking
10
INTELLIGENTCIO
European assets such as the Shard
skyscraper and Harrods department
store in London, as well as Credit
Suisse and Volkswagen.
for ways to enhance our digital customer
experience and this partnership with
Mobimedia International will add a
wide range of consumer services and
apps to our portfolio. The mJams Music
Streaming app generated a fantastic
response in Myanmar when we launched
it earlier this year, because it is designed
to bring an incredible range of music
and amazing listening experience to
customers in emerging markets. We
anticipate similarly positive responses to
some of the other upcoming services.”
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