Bahrain claims victory on MTC move

Kuwait's mobile telecom giant is planning to shift its headquarters to Bahrain, according to reports.

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By  Michele Howe Published  August 29, 2007

Kuwaiti mobile telecom giant Mobile Telecommunications Company (MTC) will make its new home in Bahrain, according to a report in the local press.

A spokesperson from MTC-Vodafone has confirmed the firm is planning to move its headquarters from Kuwait to the Kingdom of Bahrain, the Bahrain Tribune reported.

"The rebranding exercise of the operations in the GCC region is on and the unified module would emerge once it is completed. It will function from Bahrain moving the headquarters out of Kuwait," the spokesperson said, according to the report.

An official announcement will be made on September 8, the newspaper reported.

A spokesperson from MTC was not immediately available for comment.

MTC, the second largest Arab telecom operator, said yesterday it was considering moving its headquarters from Kuwait to Bahrain, Dubai or Amsterdam.

The firm's decision was motivated by strict regulation on investments in Kuwait, its deputy chairman was quoted as saying.

"The Kuwaiti business environment repels investment and the country's laws are not good for a financial hub," Kuwait daily Al Rai quoted deputy chairman Saad Al-Barrak as saying, according to a report by Reuters.

MTC operates in Bahrain in partnership with Britain's Vodafone Group as MTC Vodafone Bahrain.

It operates in six countries in the Middle East in total as well as in 14 sub-Saharan countries in Africa.

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