Do More With Reuters
Partner Services

Bahrain's Batelco to start India ops in 4th quarter

Sun Jul 12, 2009 5:54pm IST
 
Email | Print | | Single Page
[-] Text [+]

MANAMA (Reuters) - Bahrain Telecommunications Co (Batelco) expects its Indian mobile phone affiliate S Tel Ltd. to start operations in the fourth quarter, it said in a statement on Sunday.

The company said in April its 2009 net profit would depend on whether it starts the operations in the fourth quarter or the first quarter of 2010.

"We have been working very closely with our partners and we are looking forward to the launch of full services from S Tel during quarter four this year," Chief Executive Peter Kaliaropoulos said in the statement.

Kaliaropoulos said in April he expected full-year net profit to be above 90 million Bahraini dinars ($238.7 million) if its Indian affiliate started operations in the fourth quarter and booked start-up costs of about 9 million dinars.

He expected net profit of above 100 million dinar if the operations in India, Batelco's first outside the Gulf Arab regions, began next year.

In January, a Batelco-led consortium said it had agreed to pay $225 million for a 49 percent stake in S Tel which it would build in stages. Batelco said on Sunday the stake had reached 42.7 percent.

Batelco is facing increased competition in its home market, and is looking to diversify its earnings by adding operations in Asia and Africa.

Britain's Prime Minister Gordon Brown speaks, as finance minister Alistair Darling listens at the G20 Finance Ministers meeting in St. Andrews, Scotland. REUTERS/POOL New
UK joins G20 push for world levy on banks

Britain threw its weight behind proposals to impose a global levy on banks to fund future bailouts and called on the G20 to work toward a $100 billion deal to meet the cost of climate change.  Full Article | Full Coverage 

special coverage

Photo
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.  Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

column

Nipun Mehta
Nipun Mehta, SG Private Banking
India - planning the road to recovery

There needs to be an acceptable balance created between education & healthcare and infrastructure spend.  Full Article 

SHOWCASE

Robot Asimo

Snapshots of Honda Motor's humanoid robot Asimo  Slideshow 

 
Marketing Strategy
Marketing Strategy

Companies are now using direct marketing methods to sell their products.  Full Article 

 
Out of Woods?
Out of the Woods?

Analysis - CIT's bankruptcy exit fraught with uncertainty  Full Article 

 
Exit Plans
Exit Plans

Factbox - Stimulus exit plans for Asia-Pacific's big 5 economies  Full Article