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Batelco wins USD 211 mln from Indian partner

2014-06-16 16:02:00| Telecompaper Headlines

(Telecompaper) A British court has ruled in Batelco's favour, ordering the operator's former Indian partner to pay it USD 211.1 million for failing to fulfill a previous agreement. Batelco had sued Chennai-based Siva and its chairman Chinnakannan Sivasankaran, seeking repayment of the USD 174.5 million it paid the company for a 43 percent stake in Indian operator S Tel in 2009, plus USD 10.3 million in damages and a further USD 30,000 a day. The court found that the defendants failed to adhere to a settlement agreement for the commercial venture. Batelco exited the venture after S Tel struggled to compete in the crowded Indian market and had several of its licences revoked as part of a wider scandal in the Indian government.

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Batelco names new group CEO

2014-04-09 02:00:00| Total Telecom industry news

Alan Whelan takes top job at Bahrain telecoms operator.

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RCom drops Batelco for talks with Samena on Globalcom sale

2013-04-22 03:39:00| Telecompaper Headlines

(Telecompaper) Indian operator Reliance Communications (RCom) has confirmed it is in advanced talks with a Samena Capital-led consortium to sell its international subsidiary Reliance Globalcom. Samena is already conducting due dligence, and the companies aim to complete a deal by the end of May. RCom also said it is no longer in talks with Batelco on the possible sale of Globalcom. Bahrain-based Batelco said in March that it was in talks to acquire the international carrier. RCom is looking to sell the activities in order to reduce debt.

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Reliance confirms talks with Batelco

2013-03-15 08:20:00| Telecompaper Headlines

(Telecompaper) India's Reliance Communications has confirmed it is in talks with Batelco on selling a stake in Reliance Globalcom, the company's enterprise business unit. Reliance warned that at this point, there can be no certainty that the talks will lead to a transaction and said that further announcements will be made in due course. Batelco also confirmed it's in discussions with Reliance Group with respect to Reliance Globalcom.

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