Bahrain Telecommunications Company (Batelco), which said it would exit its Indian mobile JV following the cancellation of its 2G licences, could re-enter the country by investing in an existing company.
Dow Jones reported that Batelco CEO Shaikh…
Bahrain Telecommunications Company (Batelco), which said it would exit its Indian mobile JV following the cancellation of its 2G licences, could re-enter the country by investing in an existing company.
Dow Jones reported that Batelco CEO Shaikh Mohamed bin Isa Al Khalifa said in an email to the news service that the operator does not want to invest in start-up companies but instead in existing operators, without disclosing the names of potential targets.
He reportedly added that the company is unlikely to participate in India’s forthcoming 2G auction, which is scheduled to take place by 31 August 2012.
In early February, Batelco had announced it would sell its 42.7% stake in Indian JV S-Tel, days after India’s Supreme Court ordered the cancellation of 122 2G licences, saying they had been illegally granted in 2008.
The sale “is a part of an earlier understanding with its Indian partner to exit, given the circumstances surrounding the 2G probe in India over the past twelve months,” Batelco stated at the time.
UAE-based Etisalat also said it would exit the country.
A new 2G auction is expected to take place within the next few months but the reserve prices recently recommended by India’s regulator have been criticised by many telcos for being too high.