Manama, Bahrain: Batelco (Ticker: BATELCO), the regional telecommunications group with operations across 14 countries, today announced it has signed a Share Purchase Agreement (“SPA”) with Kuwait Telecommunications Company (“VIVA”) to sell its 90% shareholding of its Kuwait subsidiary, QualityNet General Trading and Contracting Company W.L.L (“QualityNet”).

The price consideration will be determined upon completion of the full transfer of shares and fulfilment of the terms, conditions and covenants agreed between the parties in the SPA. Moreover, QualityNet’s shares will be transferred to VIVA after obtaining the necessary regulatory approvals in the State of Kuwait.

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This press release is available on the Bahrain Bourse website and on Batelco Group website, www.batelcogroup.com 

This press release has been issued by Batelco Corporate Affairs department. 

For further information, please contact Batelco Public Relations Office

 Public.Relations@btc.com.bh  / Fax +973 17611898

About Batelco 

Batelco Group is headquartered in the Kingdom of Bahrain and listed on the Bahrain Bourse. Batelco has played a pivotal role in the country's development as a major communications hub and today is the leading integrated communications’ provider, continuing to lead and shape the local consumer market and the enterprise ICT market. Batelco has been growing overseas via investing in other market-leading fixed and wireless operators.

Batelco Group has evolved from being a regional Middle Eastern operation to become a major communications company with direct and indirect investments across 14 geographies, namely Bahrain, Jordan, Kuwait, Saudi Arabia, Yemen, Egypt, Guernsey, Jersey, Isle of Man, Maldives, Diego Garcia, St. Helena, Ascension Island and the Falkland Islands. 

www.batelco.com 

www.batelcogroup.com 

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