Friday, Dec 08, 2006
Gulf News
Dubai: FTSE 100 company Cable & Wireless disposed of its 20 per cent stake in Bahrain Telecommunications Company (Batelco) on Wednesday to a group of buyers including Mumtalakat Property Holding Company (the investment vehicle of the Government of Bahrain), the Bahrain General Organisation for Social Insurance and the Bahrain Pension Fund Commission for $506 million.
The deal represents the largest ever telecommunications transaction in Bahraini history and the largest single transaction of shares in a Bahraini company and is among the most significant telecoms transactions in the Gulf region this year in terms of market value.
Gulf News 2006. All rights reserved.
