Bahraini incumbent Batelco is assessing its options for Indian subsidiary S Tel since the market has proved more challenging than expected, according to ITP citing CEO Peter Kaliaropoulos.
He was quoted saying that the fall in mobile prices had exceeded…
Bahraini incumbent Batelco is assessing its options for Indian subsidiary S Tel since the market has proved more challenging than expected, according to ITP citing CEO Peter Kaliaropoulos.
He was quoted saying that the fall in mobile prices had exceeded even the worst case scenarios predicted by Batelco.
Kaliaropoulos added that the subsidiary has also been impacted by the restrictions imposed by the government on Chinese telecom equipment last year.
Finally, the 2G scandal is a hindrance to raising much needed funding. But Kaliaropoulos reportedly said that India continues to hold opportunities for Batelco in the long term, particularly in the mobile payment segment.
In early 2009, the Bahrain-based company bought 49% of S Tel for US$225m. The remaining 51% is held by Indian firm Siva Ventures.