Equity firms support Batelco Globalcom purchase

19 Apr 2013

Private equity firms Providence and Carlyle are part of a consortium backing Bahrain Telecommunications Company’s (Batelco’s) bid to purchase Reliance Globalcom, the submarine cable arm of Reliance Communications (RCOM), the Times of India reports citing people with knowledge of the matter. Samena Capital and the sovereign wealth funds of Singapore and Dubai have also been linked to the deal, which is expected to see Batelco acquire a 51% stake, with RCOM retaining 15%-20% and the private equity consortium claiming the remaining 30%-35%.

India, Bahrain Telecommunications Company (Batelco), Reliance Communications (RCOM)