Industrialist C. Sivasankaran has decided to sell 6.3 per cent stake in Chennai-based operator S Tel to Bahrain Telecommunications (Batelco). The deal is valued at Rs 1.25 billion, on the basis of Batelco Millennium India’s (a Batelco-controlled company) earlier acquisition of 42.7 per cent stake in S Tel for Rs 8.75 billion, valuing the operator at over Rs 20 billion.
However, Batelco may have to pay a premium for acquiring the new 6.3 per cent stake.
