Batelco shareholders approve CWC acquisition
- Bahrain: Wednesday, January 16 - 2013 at 07:24
Bahrain's Batelco has said its shareholders have approved its acquisition of the various companies from Cable & Wireless Communications (CWC) that comprise its Monaco and Islands Division, Gulf Daily News has reported. The acquisition deal includes the entire CWC interest in the Maldives, Channel Islands and Isle of Man, the Seychelles, South Atlantic and Diego Garcia as well as a 25% shareholding in Compagnie Monagesque de Communications SAM (CMC), which holds CWC's 55% interest in Monaco Telecom. In addition, Batelco and CWC have entered into put and call arrangements in relation to CWC's remaining 75% interest in CMC, allowing Batelco to acquire a controlling interest in Monaco Telecom, in line with certain previously announced terms and conditions.
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