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Batelco seeking more returns from foreign units
- Bahrain: Wednesday, October 17 - 2012 at 03:42
Bahrain's Batelco has said it wants to increase its holdings in affiliate firms, as the former monopoly seeks to maximise its control and the returns from the operations, Reuters has reported. "If opportunities such as what Qtel has done with Wataniya come along with any of our portfolio holdings, of course we will look at it favourably," said Batelco group chief executive, Sheikh Mohamed Isa Al-Khalifa. Batelco owns Jordanian operator Umniah, 27% of Yemeni mobile firm Sabafon and minority stakes in internet providers in Kuwait and Saudi Arabia, and it is also active in Egypt. The firm is in talks with Cable & Wireless Communications to buy its assets in Monaco and a host of island nations, a deal potentially worth around $1bn.
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