“The Term Sheet is in line with the Consortium’s non binding offer as submitted on 13 March 2011 and Zain’s Group’s acceptance on 14 March 2011.”
“All parties look forward to the due diligence phase and approvals from all relevant authorities in KSA including Zain KSA Board,” Kaliaropoulos added.
Batelco Group, listed on the Bahrain Stock Exchange, is the leading integrated communications’ provider in the Kingdom of Bahrain and a company of reference among the region’s key telecommunications players for innovation and customer experience.
Batelco serves both the corporate and consumer markets in the most liberalised and competitive environment in the Middle East Africa region. It delivers cutting-edge fixed and wireless telecommunications services to its customers in Bahrain, Kuwait, Saudi Arabia, Jordan, Yemen, Egypt and India.
The Batelco Group of companies offers end-to-end telecommunications solutions for its residential, business and government customers in Bahrain on Next Generation, all IP fixed and 3.5G wireless networks, MPLS based regional data solutions and, GSM mobile and WiMax broadband services across the countries in which it operates.