Batelco snaps up Umniah

26 Jun 2006

Bahrain Telecommunications Company (Batelco) has acquired a 96% stake in wireless operator Umniah for approximately USD415 million. The Underprivileged Student Support Fund will retain the remaining 4%. Umniah became Jordan’s third licensed GSM mobile operator in August 2004 and launched commercial services in June 2005. It currently has approximately 500,000 subscribers, corresponding to a 13% share of the mobile market.

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