Bahrain Telecommunication Company (Batelco) has posted a 4.4% year-on-year rise in 2006 net profit to BHD89.3 million (USD237 million), on annual revenues that rose by 11% to BHD235 million (USD624 million). The former monopoly telco invested a record BHD39.5 million (USD105 million) in upgrading its telecoms infrastructure in 2006, including the rollout of a next generation network (NGN), expansion of its mobile network and enhancements to international capacity. During the year Batelco upped its maximum retail broadband connection speed to 2Mbps (downstream), and introduced BlackBerry handheld mobile devices, pre-paid international VoIP calling cards and regional corporate IP-VPN services based on MPLS technology. It also began the deployment of a nationwide 3.5G W-CDMA/HSDPA wireless network, scheduled for launch in the second quarter of 2007, but it suffered a setback in December when it lost a WiMAX licence auction to Mena Telecom and MTC-Vodafone Bahrain. In June Batelco bought a 96% stake in Jordanian GSM operator Umniah for approximately USD415 million.