Batelco and Reliance confirm discussions for Globalcom
15 March 2013 |
Reliance Communications is reportedly in discussions with Bahrain’s Batelco over its potential purchase of a majority stake in Reliance Globalcom.
Reliance Globalcom is the company’s enterprise business unit and the deal would keep Reliance as a minority owner.
A spokesperson at Reliance claimed that the discussions would not necessarily lead to a transaction.
The company was previously looking to sell the Globalcom division in its entirety but had no offers in line with the asking price.
Batelco has been looking to drive its presence in India and the sale would position it well for growth in the region and internationally.
In October last year Batelco announced plans to increase its stakes in affiliates.
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