Batelco plotting African acquisition

11 Mar 2009

Batelco CEO Peter Kaliaropoulos has told Reuters that his company plans to make an acquisition worth up to USD2 billion in Africa within six months. ‘There are three opportunities we are working on in Africa, they are all existing operators, and … we are giving ourselves a time frame of six months to make sure we are getting the right opportunity for Batelco,’ Kaliaropoulos said. The executive also stated that he expected 2009 net income to be unchanged from 2008, as higher profits domestically would be offset by investment costs from S Tel. Batelco acquired a 49% stake in the Indian cellco in January 2009.

Bahrain, Bahrain Telecommunications Company (Batelco)