Batelco Blocked in Bid to Buy Seychelles Mobile Network Operator
Published on: 3rd Dec 2013
Note -- this news article is more than a year old.
UK based Cable & Wireless Communications says that the necessary approvals for the previously announced sale of its business in the Seychelles to Batelco Group have not been granted.
Accordingly, that disposal did not complete by the long-stop date agreed with Batelco and CWC will be considering its options for the Seychelles business.
CWC did not elaborate on why the regulatory approvals were not granted.
The Seychelles sale was part of a wider agreement by CWC to sell its operations in Maldives, the Channel Islands and Isle of Man, South Atlantic, and Diego Garcia.
This is the second deal between the two companies to unravel -- after CWC had to reverse a deal to sell a 25% stake in its Monaco subsidiary to Batelco.