Batelco seeks to raise stake

20 Feb 2008

According to reports from local news agencies, Batelco has offered JOD2.1 million (USD3 million) for the remaining 20% of shares it does not currently own in Batelco Jordan. The offer has been made to all Batelco Jordan shareholders via Batelco’s 96%-owned subsidiary Umniah Mobile Communications. The acquisition is subject to regulatory approval from the Jordanian authorities, but it is widely expected to be given the green light. According to TeleGeography’s GlobalComms database, Batelco Jordan is the largest of the country’s alternative operators.