Bahrain Telecommunications Company (Batelco) has decided to drop plans to sell its Jordanian division, Umniah, valued at up to USD600 million, TMT Finance writes, citing unnamed sources. Citigroup was reportedly hired to explore options for the operator, but preliminary interest in the company was ‘limited.’ The asking price is understood to have been the main sticking point for potential investors, whilst Jordan’s tax structure also reportedly discouraged buyers.
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