OORO QSCADR : Ooredoo Kuwait and FASTtelco Finalize Transfer of Ownership

Offering full scope of mobile and fixed services to cater to an increasing market demand

Kuwait, Kuwait City: Ooredoo Kuwait, member of international Ooredoo Group, has finalized the purchase of 99% of Internet Service Provider FASTtelco's shares for a total of KD 11 million. Following this transaction, Ooredoo and FASTtelco will continue to co-exist as separate legal entities in the foreseeable future.

Ooredoo CEO Sheikh Mohammed bin Abdullah Al Thani said: 'This deal is a huge achievement for Ooredoo Kuwait and FASTtelco. Both companies will work hand-in-hand to deliver the highest quality products and services to consumers and businesses. We will continue to innovate and invest in our portfolio to create unique offerings in the Kuwaiti market to meet the needs of our consumers. Our focus will be on exceptional service delivery to ensure that we continue to meet our goal of enhancing people's lives through the strengths of both companies'.

Business and residential consumers will gain access to comprehensive offers that combine fast-speed mobile internet and voice, fixed broadband, gaming and data center services. Customers will benefit from the new products and services as well as from increased service delivery due to improved infrastructure. Jointly, the companies will promote the accelerated development of new products and services and unique customer experiences.

By relying on Ooredoo Kuwait's comprehensive nationwide wireless network and FASTtelco's dependable and cost effective fiber broadband solutions, the companies will drive an enhanced customer experience with a focus on speed and consistency.

To get further details about the new packages and services, customers can visit one of Ooredoo outlets or official retailers, and they can also visit www.ooredoo.com.kw or call the customer care center available 24/7 on 121 for Ooredoo subscribers.

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About Ooredoo Kuwait

Ooredoo's operations in Kuwait date back to December 1999 when it launched wireless services as the second operator. The company today provides mobile, broadband internet and corporate managed services tailored to the needs of customers and businesses. 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.

Website: www.ooredoo.com.kw

Twitter: @OoredooKuwait

Instagram: OoredooKuwait

Facebook: facebook.com/OoredooKuwait

YouTube: /OoredooKuwait

About Ooredoo Group

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 South-East 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 and Indonesia. The company was named 'Best Mobile Operator of the Year' at the World Communication Awards 2013.

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.

Twitter: @Ooredoo
Facebook: facebook.com/ooredoogroup
LinkedIn:http://www.linkedin.com/company/ooredoo

YouTube:www.youtube.com/ooredoogroup