Batelco

Batelco Looking Forward to Buy Controlling Stakes in Reliance Globalcom

Batelco Looking Forward to Buy Controlling Stakes in Reliance Globalcom

According to sources, Bahrain Telecommunication Company, Batelco, is eyeing to buy controlling stake in Reliance Globalcom. Batelco with a few Middle East funds, have estimated the value of Mumbai-based Globalcom as $1.3 billion.

However, one of the sources has revealed that there is no certainty of the deal to go through. If the deal goes through, as the talks are going between Batelco and Globalcom, Reliance group will hold the minority stakes in the company.