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Bahrain Telecommunications Co BSC Approves Acquisition and Equity Investment Of Various Companies From Cable & Wireless Communications Plc

Monday, 14 Jan 2013 06:30am EST 

Bahrain Telecommunications Co BSC (Batelco) announced that its shareholders has approved the acquisition of the various companies from Cable & Wireless Communications Plc (CWC) that comprise its Monaco and Islands Division. Batelco has received the shareholder approval of its proposed acquisition of the entire CWC interest in the Maldives, Channel Islands and Isle of Man, the Seychelles, South Atlantic and Diego Garcia as well as a 25% shareholding in Compagnie Monagesque de Communications SAM (CMC), which holds CWC’s 55% interest in Monaco Telecom. In addition, Batelco and CWC have entered into put and call arrangements in relation to CWC's remaining 75% interest in CMC, allowing Batelco to acquire a controlling interest in Monaco Telecom in line with certain previously announced terms and conditions.