Batelco increases stake in S-Tel

14 Jul 2009

Bahrain Telecommunications Company (Batelco) has upped its stake in new Indian mobile operator S-Tel from 36.9% to 42.7% following a USD38.8 million investment, Light Reading reports. The increase is the latest phase of Batelco’s investment in the yet-to-launch cellco, in which it will eventually hold a 49% stake; the other major investor in S-Tel is India’s Sterling Group, which holds a 51% stake. S-Tel, which is currently licensed to operate in six circles, has also reiterated its plans to launch commercially by the end of 2009. Earlier this month, according to TeleGeography’s GlobalComms database, S-Tel won a legal challenge against the Department of Telecommunications (DoT), with the Delhi High Court ordering the regulator to grant the cellco licences to operate in 16 additional circles. Despite the victory however, S-Tel has indicated it will likely focus its efforts on rolling out in the north east of the country.

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