Corporate | Batelco pays $38.8 mn to boost share in STel

Corporate | Batelco pays $38.8 mn to boost share in STel
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First Published: Sun, Jul 12 2009. 09 39 PM IST
Updated: Sun, Jul 12 2009. 09 39 PM IST
Dubai: Bahrain’s largest phone company Bahrain Telecommunications Co. said it paid $38.8 million to increase its stake in India’s STel Ltd.
The purchase boosted the share in the company to 42.7%, Batelco, as the company is called, said in an emailed statement from Manama on Sunday. The company expects to start offering mobile-phone services in India in the fourth quarter.
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First Published: Sun, Jul 12 2009. 09 39 PM IST