Batelco Exits Scam Filled Indian Telecom Market, Sells of Shares in STel

By February 8th, 2012 AT 8:16 PM

Batelco Exits Scam Filled Indian Telecom Market, Sells of Shares in STelWhat 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.

Even as reported earlier 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.

guest
37 Comments
newest
oldest
Inline Feedbacks
View all comments

Recent Posts

BSNL Steps Up Broadband Game, Now Offering OTT Benefits Via Add-On Packs

Bharat Sanchar Nigam Limited (BSNL) has started providing users with over-the-top (OTT) benefits on purchase of broadband plans. The telco...

WhatsApp Takes a U-Turn, Delays the Implementation of New Privacy Policy

WhatsApp officially announced that it is delaying the implementation of the new privacy policy by at least three months. In...

One Airtel Plans 2021: Prices, OTT Subscriptions and Every Benefit Detailed

Bharti Airtel offers telecom, broadband and DTH services in the country. A few months ago, Bharti Airtel introduced ‘One Airtel‘...