India’s 2G spectrum scandal has cast a cloud over the country’s telecoms sector so dark that former Telecoms minister Andimuthu Raja is said to feel safer in prison than he does walking down the street. He has been sat in a cell for over a year, refusing to post bail and stands accused of taking bribes to sell spectrum to firms at discounted rates.
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Bahraini operator group Batelco has announced that it has sold its stake in India’s STel, due to the circumstances surrounding the country’s 2G scandal. The operator noted that it had been looking for a buyer of its share in the Indian carrier long before last week’s ruling from the Supreme Court of India to cancel the 122 spectrum licences awarded in a 2008 spectrum sale.
In the Middle East, UAE operator Du has announced plans to provide Wifi access across the Dubai Metro, the majority shareholder in Orange Israel is looking to sell its stake in the firm and a Bahraini operator is left reeling after the Indian Supreme Court cancels its licence to provide 2G services in the country.
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Big changes are underway at Bahrain’s incumbent operator Batelco, which has just unveiled an overhaul of its senior management; is reported to be planning to sell most of its stake in its Indian venture; and might soon be in control of Zain Saudi Arabia, with partner Kingdom Holding.
Bahrain’s principal fixed line carrier, Batelco, said Monday that it has acquired a 49 per cent stake in Indian mobile operator S Tel, via a joint venture with a Dubai-based private equity firm. Batelco, which is majority owned by the Bahrain government, partnered with Millenium Private Equity to form the Batelco Millennium India Company, which [...]
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