Bahrain Telecommunications, which holds about 43 per cent stake in STel, has said that it is exploring all available options to ensure long- term growth of the company’s investment in the Indian telecom market.
STel is a joint venture between the Siva Group and Bahrain Telecommunications Company. The Middle East telecom firm holds 42.7 per cent stake in the joint venture company.
In a regulatory filing to the Bahrain Bourse, Peter Kallaropoulos, CEO, Bahrain Telecommunications Company said, “We are committed to the Indian telecommunications market and value the opportunities for growth that will be enhanced by future market consolidation in the industry despite some short term challenges.?
This comes after media reports that Batelco is looking to sell around 30 per cent its stake in STel. STel currently provides telecom services in Orissa, Bihar, Himachal Pradesh, North East, Assam and Jammu and Kashmir to over 226 million subscribers.
