The Mobile Telecommunications Company (MTC) has been selected by the Telecommunications Regulatory Authority (TRA) as the preferred applicant for the award of the second mobile license in Bahrain.
The license will be granted on April 22 to a Bahraini company by the name of MTC Vodafone Bahrain, which will be 60 percent owned by MTC and 40 percent owned by Bahraini institutional and individual investors. Vodafone will enter into a cooperation agreement with the company after the license award. The National Bank of Kuwait (NBK) acted as the sole financial advisor to MTC in connection with the application.
The TRA had received 10 applications for the license from various international and regional applicants on or before March 5 and decided to shortlist three applicants, including the MTC Vodafone Bahrain on March 26. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
