Group CEO, Shaikh Mohamed bin Isa Al Khalifa, told reports at Batelco Headquarters that the business model to acquire the running businesses would continue to be a part of the strategy.
Shaikh Moahmmed, who was joined by the Batelco Group General Manager Human Resources and Development Shaikh Ahmed bin Khalifa Al Khalifa and Batelco Bahrain CEO Rashid Abdulla, didn’t rule out investing in Indian market.
“Indian market is very interesting and Batelco watching the recent developments in the telecom sector taking place in India and will definitely looking for opportunities in that market,” Shaikh Mohammed said, adding that Batelco would invest in the running project.
On Tuesday, Batleco reported a net profit $114million against $151million for the corresponding period in 2011, a decrease of 25%.
Shaikh Mohamed while commenting on the possible acquisition of CWC businesses in Monaco and Islands said that negotiations were underway and the results would be made public at a ripe time.
At this point, there can be no certainty that this will lead to a transaction. A further announcement will be made in due course if appropriate,” Shaikh Mohamed, said.
Shaikh Moahmmed said that it was a right time for the TRA to conduct a market review as there have been drastic changes taken place in the market since the first review was carried out in 2008.
“Across the Group, our focus has been on enhancing competitiveness in our home market, Bahrain, and at our subsidiary companies. This has meant both ensuring we remained as innovative as possible in our approach to serving our customers as well as in the manner in which we manage our operations,” Shaikh Mohamed in a statement on Tuesday said while commenting on the nine months results.
“For us, one strong measure of success has been the growth we have achieved in our subscriber base since the start of the year. We’ve seen a 12% growth in customer numbers for the nine month period, bringing us to 7.4 million users across the Group. We are especially pleased to have achieved growth during the summer months and Ramadan period, where subscriber renewal and activity has historically been lower.
“In Bahrain, where competition is robust, we have maintained our leadership. Overseas, advancements have also been made. In Jordan, customer response to the launch of Umniah’s 3.75G services in late June has exceeded expectations. Similarly, Yemen has turned a corner with normalizing conditions in the country and the resulting resumption of growth at the company.”