Batelco: ‘no comment’ on sale buzz

23 May 2007

Batelco yesterday said it does not intend to comment on recent reports of a possible sale of 20% of the company. ‘We have a policy of not commenting on rumours and speculative reports in the press with regard to the sale of any shares of Batelco,’ chief executive Peter Kaliaropoulos stated, adding that ‘We continue to remind the press that this is a matter solely for shareholders and not for Batelco management.’ Batelco had previously denied it was in negotiations to sell 20% of its shares to an international telecoms company, despite remarks by its chairman Shaikh Hamad bin Abdulla bin Mohammed Al Khalifa, who told journalists in Yemen on 14 May that the company was engaged in talks to sell 20% of its equity to a southeast Asian firm. Shaikh Hamad was in Yemen to meet officials from Yemeni telecoms firm Sabafon, in which Batelco bought a 20% stake earlier this year.

Bahrain, Bahrain Telecommunications Company (Batelco)