Batelco Seizes Opportunities In Jordan

June 2006 | Company Finance Alert

Bahrain's leading telecoms operator Batelco has further demonstrated its commitment to the Jordanian market, in which it offers fixed-line services under the brand name Batelco Jordan by purchasing a 96% stake in mobile operator Umniah Mobile Communications (UMC) at a cost of US$415mn. The decision to enter the Jordanian mobile market comes after the operator stated it would look for greater investment opportunities in the Middle East and North African regions to complement the expected slowdown in revenue growth in Bahrain. For the first three months of 2006, the operator reported net profits of BHD23.5mn, up by just 3.5% y-o-y,

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