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Bahrain Telecommunication Company (Batelco) is looking to re-enter India through the acquisition of a telecom company.
According to The National , Batelco CEO Sheikh Mohamed bin Isa Al Khalifa said that the company is not interested in participating in the upcoming 2G spectrum auctions in India to secure licences and set up a new joint venture in India.
However, it is planning to enter India again by investing in existing telcos.
Batelco had formed a special purpose vehicle with Dubai-based Millennium Private Equity to acquire 49 per cent stake in Indian mobile services provider S Tel for $225 million in 2009.
S Tel had secured 2G licences in six circles – Himachal Pradesh, Jammu & Kashmir, Bihar, Orissa, Assam, and the North-East — and had launched its GSM services in December 2009.
The Supreme Court had in February last year, however, cancelled 122 licences, including those of S Tel.
Following this, Batelco exited the venture by selling out its 42.7 per cent stake in S Tel to Sky City Foundation.
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