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FINANCIAL NEWS
Bahrain Batelco stops its plan to sell Jordan’s Umniah
22 Feb 2016
(MENAFN) Bahrain’s Batelco has stopped plans to sell Jordanian telecom operator ‘Umniah’, mentioning market conditions as it instead aims to make achievements itself.
Accordingly, Batelco will dismiss the sale process, which is not an ideal time to sell, it is best to buy, and it operates in 14 markets from the Falkland Islands to the Maldives.
In addition, Batelco’s main goals were to reduce costs, increase efficiency, assess potential new business areas and assess existing assets.
Moreover, the firm wants to spread into smart home services, mobile money, mobile health, and cloud services, which will buy firms, forge businesses.
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