Batelco-led consortium acquires 49% stake in Indian cellco

19 Jan 2009

The Financial Times is reporting that a consortium led by Bahrain-based telco Bahrain Telecommunications Company (Batelco) had acquired a 49% stake in Indian cellco S Tel. The consortium paid USD225 million for the stake and subject to regulatory approval the purchase is expected to be finalised by the end the first quarter of 2009. S Tel holds licences for six circles in India; Bihar, Orissa, Jammu & Kashmir, Himachal Pradesh, North East and Assam. The mobile operator has said that it will focus its operations in the north-east and north-west of India.

India, Bahrain Telecommunications Company (Batelco)