Batelco, Bahrain's telecommunications company, has commented on recent local press about its future investments in new projects overseas, based on an interview with Batelco Group Chief Executive Officer Peter Kaliaropoulos.
“These news stories are consistent with previous statements Batelco has made about its intentions to invest overseas and diversify its operations in light of increasing competition and limited market growth in Bahrain,” said Mr Kaliaropoulos. The news reports state clearly that Batelco is "looking‟ for opportunities outside of Bahrain; particularly within the Middle East and North Africa region.
“The targeted opportunities range up to $2 billion dollars but should Batelco be successful in acquiring such a company, a combination of debt and equity will be funding the acquisition.
"It is far too early to announce any specific targets and the funding arrangements will be detailed at the time of the acquisition,” he highlighted.
The company said such statements are in line with Batelco's strategy to expand and grow the company.
