Batelco in talks to acquire stake in Reliance unit
- Bahrain: Sunday, March 17 - 2013 at 07:30
Batelco has confirmed it is in talks with Reliance Communications to acquire a stake in the Indian operator's enterprise business unit, Reuters has reported. The Bahraini telecoms operator is seeking to expand abroad to offset declining domestic income and is keen to return to India, despite its former affiliate S Tel being one of eight mobile operators to lose their telecoms licences last year as part of a corruption probe. Reliance Communications, India's third-largest mobile phone carrier by customers, had net debt of about $6.9bn as of December, or more than five times its annualised operating profit, making it the most-leveraged Indian phone carrier.
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