Batelco in talks to buy Reliance Globalcom stake

Bahraini incumbent eyes presence in India as part of international expansion

Tags: BahrainBahrain Telecommunications CompanyIndiaReliance Globalcom (www.relianceglobalcom.com)
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Batelco in talks to buy Reliance Globalcom stake Batelco is actively seeking the acquisition of assets and stakes.
By  Roger Field Published  March 17, 2013

Batelco, Bahrain's incumbent telecom operator, has confirmed it is in talks regarding the purchase of a stake Reliance Globalcom, the enterprise business unit of India Reliance Communications.

The confirmation followed closely from a statement issued by Reliance last week to the Bombay Stock Exchange, which said: "[Reliance] is in discussions with Batelco Group with respect to Reliance Globalcom, the company's global communications services business unit."

Reliance's statement added there could "be no certainty" that the talks would lead to a deal and that a further announcement would be made in due course.

Batelco, which is also in the process of acquiring various assets from Cable & Wireless Communications, is keen to extend its footprint beyond Bahrain.

Reliance Globalcom owns undersea cable systems that connect 40 business markets in India, the Middle East, Asia, Europe, and the US.

Batelco's earlier attempt to tap India's booming telecom market, through mobile operation STel, ended in failure when its joint-venture partner was implicated in the country's 2G spectrum scandal.

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