February 2012
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Batelco to sell stake in S Tel

Bahraini telecommunications company Batelco Group on Wednesday said it was selling its stake in Indian mobile operator S Tel for $174.5 million, just days after India’s top court nullified more than 100 mobile phone licenses.
Batelco amassed its 42.7 per cent stake in S Tel less than three years ago. It said it hoped to complete the sale to India’s Sky City Foundation by the end of October. Batelco said it had been considering offloading the S Tel stake since April, and reached the agreement to sell it during the last part of 2011.
Source: The Hindu

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