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Batelco May Make Second Attempt to Launch Indian Mobile Network
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Bahrain's Batelco has indicated that it may make another attempt to enter the Indian market less than a year after it sold its previous investment in the country.
Back in 2009, the company bought just under half of the newly licensed Indian network, STel for US$225 million. The mobile network had its licenses cancelled last year as part of the 2008 GSM Licenses scandal.
Late last year, Batelco sold its stake for US$174.5 million to its Indian partner, Sky City Foundation, although it is now suing the company for non-payment.
"India is an attractive telecom market due to its size, growth potential and opportunity to launch many innovative services," Batelco's CEO, Sheikh Mohamed bin Isa Al Khalifa told The Nation newspaper. "Potential opportunities in India remain on our agenda [and] Batelco is interested in investing in existing operators." he added.
The news may be a boon for the Indian government which is due to sell off the remaining licenses in March that were unsold due to a lack of interest and the high reserve price last year. Increased interest in the remaining licenses may help drive up the prices.
On the web: The Nation
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