C&W looks for buyer for Batelco stake

24 Apr 2006

Investment bank UBS is helping UK-based telco Cable and Wireless (C&W) to find a buyer for its 20% holding in Bahrain Telecommunications Company (Batelco) reports the Bahrain Tribune. The sale is expected to generate around USD600 million for C&W, which needs the money to reduce its pension fund deficit. C&W has no senior managerial involvement in Batelco.