Batelco explores options for growth in Indian telecom mkt

Bahrain Telecommunications, which holds about 43% stake in Indian telecom player STel, today said it is "exploring all options" to ensure long-term growth of the company's investment in the Indian telecom market.

"All options are being explored to ensure long-term growth of our investment in the Indian telecommunications market.

"We are shareholders in STel and we will review other opportunities for investment in the industry when such are presented to us, which also meet our investment criteria," Bahrain Telecommunications (Batelco) Group CEO Peter Kallaropoulos said in a regulatory filing with the Bahrain Bourse.

STel is a joint venture between Siva Group (formerly Sterling Infotech Group) and Bahrain Telecommunications Company (Batelco). The Middle East Telecom firm holds 42.7% stake in the joint venture company.

"Batelco is committed to the Indian telecommunications market and values the opportunities for growth that will be enhanced by future market consolidation in the industry despite some short term challenges," Kallaropoulos added.

The reaction comes after media reported that Batelco is looking to sell around 30 per cent its stake in STel.

STel provide telecom services in