Batelco Exits Scam Filled Indian Telecom Market, Sells of Shares in STel
What comes as a predicted move after the cancellation of licenses Bahrain Telecom (Batelco) has decided to sell off its entire stake from STEL.
Batelco had 43% stake in STEL and this move makes first foreign operator to exit India.
As per DNAIndia the agreed time frame for completion of the sale is the end of October, 2012.
STel hold its licences in Bihar, Orissa, Himachal Pradesh Assam, North-East and in Jammu and Kashmir and the company is estimated to have a subscriber base of over 3.6 million and also have the rights to offer 3G services.
S Tel’s mobile network is still down in various part of company and still the restoration work is yet to be completed.
Whats your take on this move do let us know via comments.