UPDATE 1-Qatar Telecom boosts stake in StarHub

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DUBAI Nov 16 (Reuters) - Qatar Telecom has acquired a further 7.45 percent of StarHub, Singapore's second biggest telecom company, through its Asia Mobile Holdings joint venture with Singapore Technologies Telemedia.

"We are pleased to have increased our holding in StarHub, in conjunction with our partners ST Telemedia and we will look to take advantage of further growth opportunities to develop our presence in South East Asia as they arise," Qtel Group chief executive Nasser Marafih said on Wednesday.

The acquisition was completed through a share purchase agreement with Aranda Investments, a unit of Singapore state investor Temasek. No financial detail was given.

Asia Mobile Holdings now controls 56.55 percent of StarHub, with Qtel's effective holding 14.1 percent, the statement added.

StarHub shares were down 1.05 percent at 0630 GMT at S$2.83.

Last week, StarHub posted a 7.6 percent drop in third-quarter net profit as operating expenses rose faster than revenue.

Qtel's third-quarter numbers, reported at the end of October, saw a 13 percent fall in net profit, which the company attributed to seasonal promotions and foreign exchange losses. ($1 = 1.294 Singapore dollars) (Reporting by David French; Editing by Dan Lalor)