FINANCIAL NEWS

Bahrain’s Batelco, India’s Reliance Communications in talks over potential acquisition

15 Mar 2013

(MENAFN) Bahrain Telecommunications Co (Batelco) announced that at the current time it is in discussions with India’s Reliance Communications for a potential acquisition in the operator’s enterprise business segment, Reliance Globalcom, reported The Peninsula.

Batelco, which owns Jordan’s telecoms company Umniah and a 27-percent of Yemen’s mobile operator Sabafon, said that the aim of the acquisition is to widen its business abroad, in order to compensate for lowering income in its home market.

Reliance Globalcom provides communications services to over 2,100 businesses, 200 carriers and 2.5 million retail clients in 163 countries.

It is worth noting that as of December, Reliance Communications, India’s third-biggest mobile phone carrier by customers, had net debt of nearly USD6.9 billion.

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