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Batelco Group Announces 2016 Financial Results

Manama, Bahrain: Batelco Group (Ticker: BATELCO), the regional Telecommunications Group with operations across 14 countries, today announced its results for the twelve-months ended 31 December 2016 (“the year”). Despite competitive pressure, the Group grew its customer base to 9.4M, an increase of 4% over the previous year.

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Batelco Announces Shaikh Mohammed bin Khalifa Al Khalifa as Chairman of Batelco, successor to Shaikh Hamad bin Abdulla Al Khalifa

Manama, Bahrain: Bahrain Telecommunications Company (Batelco), announced the resignation of its Chairman and Board Member, Shaikh Hamad bin Abdulla Al Khalifa.

 

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Batelco Group Announces First Quarter Financial Results for 2016 **Net Profit of BD9.6 Million**

Batelco Group (Ticker: BATELCO), the regionalTelecommunications Group with operations across 14 countries, today announced its results for the first quarter of 2016 ("the Period"). Despite continued competitive pressure, the Group was able to increase its quarter on quarter profitability through its successful cost containment programmes. 

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Batelco Group Announces 2015 Financial Results - Profits of BD49.5 Million in line with 2014 Results

Batelco Group (Ticker: BATELCO), the regional Telecommunications Group with operations across 14 countries, today announced its results for the twelve-months ended 31 December 2015 ("the year"). Despite competitive pressure, the Group remained resilient and ended 2015 with net profits in line with the previous year.

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Batelco Group Announces Third Quarter 2015 Profits of BD40.9 Million (US$108.5 Million)

Manama, Bahrain: Batelco Group (Ticker: BATELCO), the international telecommunications Group with operations across 14 countries, today announced its results for the nine-month period ended 30 September 2015 ("the Period"). The Group's customer base continues to grow steadily and net profits are in line with the same period in 2014.

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Batelco Group Announces Half Year 2015 Profit of BD27.5 Million (US$72.9 Million)

Manama, Bahrain: Batelco Group (Ticker: BATELCO), the international telecommunications company with operations across 14 countries, today announced its financial results for the six months ended 30 June 2015 ("the Period"). The Net Profit has been positively impacted by cost savings in 2015, improved deployment of assets and adjustments taken in 2014.

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Batelco Group Announces First Quarter Financial Results for 2015; Net Profit of BD14.2 Million

Subscriber Base Grows by 9% year-on- year to 9.9 Million; Net profit in line with the same period last year

Batelco Group (Ticker: BATELCO), the regional Telecommunications Group with operations across 14 countries, today announced its results for the first three months of 2015 ("the Period"). Subscriber numbers across the Group continue to grow with the total customer base just short of 10 million. Net profits remain in line with the same period of 2014.  Revenues marginally decreased year-on-year due to competitive pressures in a number of the Group's operations. 

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Batelco Group AGM Approves BD41.58 M Cash Dividends

Manama, Bahrain: Batelco Group (Ticker: BATELCO), the international Telecommunications Group with operations across 14 countries, today held its Annual General Meeting (AGM) for the twelve-months ended 31 December 2014 ("the year") and its Extra-Ordinary-General Meeting (EGM) in relation to proposed changes to the Memorandum and Articles of Association in accordance with the requirements of the Commercial Companies Law Act 50 for the year 2014.  The meetings, held at Batelco's Hamala headquarters, were attended by Shareholders, Company Directors and executive management.

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Batelco Announces Change of Leadership; New A/Chief Executive Officer to lead Batelco Group

Manama, Bahrain: Batelco Group (Ticker: BATELCO), the international telecommunications Group with operations across 14 countries, has announced a change in its Group leadership. Batelco Chairman, Shaikh Hamad bin Abdulla Al Khalifa has announced that Batelco Group CEO, Mr. Alan Whelan is leaving the Group and Mr. Ihab Hinnawi, who holds the role of CEO at Batelco's sister company Umniah, will be appointed as the Group's Acting Chief Executive Officer.

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Batelco Group Announces 2014 Financial Results; Profits up by 13% to BD49.3 Million

-         Subscriber Base Grows by 6% year on year to over 9.5 Million

-         Overseas Operations Boost Revenues and EBITDA

Manama, Bahrain:Batelco Group (Ticker: BATELCO), the regional Telecommunications Group with operations across 14 countries, today announced its results for the twelve-months ended 31 December 2014 ("the year"). Revenues and EBITDA were positively boosted by the Group's Island Portfolio with its results consolidated for a full year in 2014 compared with only 9 months in 2013.

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Batelco Group Announces Third Quarter 2014 Profits of BD40.9 Million (US$108.5 Million)

Manama, Bahrain: Batelco Group (Ticker: BATELCO), the international telecommunications Group with operations across 14 countries, today announced its results for the nine-month period ended 30 September 2014 ("the Period"). The net profits, representing a year-on-year increase of 11% and 40% compared to the third quarter of 2013, were positively boosted by strong contributions from the Group's international operations and the success of cost reductions programmes across the Group, particularly in Bahrain.  

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Batelco continues to seek Payment following Siva’s recently declared Bankruptcy

Manama, Bahrain:BMIC Limited ("BMIC") a wholly owned subsidiary of the Batelco Group of Companies (Ticker: BATELCO), has successfully obtained over recent months from the High Court of England both a judgment against Chinnakannan Sivasankaran and Siva Limited (the "Defendants") for the sum of USD 212 million (the "Judgement") and an indefinite worldwide freezing order against the Defendants' assets.

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Freezing Order of Chinnakannan Sivasankaran and Siva Limited Assets Extended by English High Court of Justice

Batelco continues to seek payment following successful USD 212 Million claim

Manama, Bahrain: Batelco Group (Ticker: BATELCO), the international Telecommunications Group with operations across 14 countries, was successful in two applications on the 5th August before the English High Court as part of its ongoing efforts to enforce a judgment for the sum of USD 212 million against the defendants.

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Batelco Group Announces Half Year 2014 Profit of BD24.9 Million (US$66.0 Million)

Manama, Bahrain:Batelco Group (Ticker: BATELCO), the international telecommunications company with operations across 14 countries, today announced its financial results for the six months ended 30 June 2014 ("the Period"). The results have been positively impacted by contributions from the Group's overseas operations as well as by stable performance in the home market.

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Chinnakannan Sivasankaran and Siva Limited Breach English High Court of Justice Order

- Batelco seeks payment following successful USD 212 Million claim

Batelco Group (Ticker: BATELCO), the international Telecommunications Group with operations across 14 countries, has demanded full payment of the judgment debt totalling USD 212 million awarded by the English High Court of Justice against Chinnakannan Sivasankaran and Siva Limited (the defendants) following  successful litigation in England. The judgment, made in the Commercial Court of the English High Court of Justice fully upheld the claim of BMIC Limited (a fully owned subsidiary of Batelco). The Court held that the defendants had failed to honour a Settlement Agreement signed in November 2011 relating to a commercial venture into which both parties had entered in 2009. The defendants were ordered to pay the judgment debt by 26 June 2014. However neither Mr. Sivasankaran nor Siva Limited has complied with the Court's order as no payment has yet been made.

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High Court Upholds Batelco’s Claim on Siva Group for a Total Amount of USD 211.1 Million

Batelco Group (Ticker: BATELCO), the international telecommunications Group with operations across 14 countries, welcomed the ruling of The Honourable Mr.  Justice Popplewell in favour of its fully owned subsidiary company BMIC Limited (BMIC) in its litigation against Siva Limited and its Chairman Chinnakannan Sivasankaran (the defendants).

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Batelco Group Announces First Quarter Financial Results for 2014; Net Profit of BD14.5 Million

Manama, Bahrain: Batelco Group (Ticker: BATELCO), the regional Telecommunications Group with operations across 14 countries, today announced its results for the first three months of 2014 ("the Period"). In keeping with recent trends, the financial results and operational performance were positively boosted by improved performance in the home market of Bahrain as well as throughout the Group's overseas markets.

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Batelco Announces Appointment of new Group CEO

Batelco Group (Ticker: BATELCO), the international telecommunications Group with operations across 14 countries, is delighted to announce the appointment of a new Chief Executive Officer for the Batelco Group.

Taking on the role of Group CEO is Mr. Alan Whelan, whose business career has seen him successfully lead a number of large scale international businesses in the ICT sector. He brings to the company a wealth of knowledge and vast proven experience in the telecom industry and adjacent fields.

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Batelco Group AGM Approves BD31.7M Cash Dividends and 5% Bonus Shares

Manama, Bahrain:Batelco Group (Ticker: BATELCO), the international Telecommunications Group with operations across 14 countries, today held its Annual General Meeting (AGM) for the twelve-months ended 31 December 2013 ("the year") and additionally an Extra-Ordinary-General Meeting (EGM) in relation to a proposed Bonus Shares issue. The meetings, held at Hamala headquarters, were attended by Shareholders, Company Directors, executive management, management and employees.

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Batelco Group Announces 2013 Financial Results; Profits of BD43.6 Million

Manama, Bahrain:Batelco Group (Ticker: BATELCO), the regional Telecommunications Group with operations across 14 countries, today announced its results for the twelve-months ended 31 December 2013 ("the year"), which were positively boosted by its overseas operations, which includes the Island Portfolio acquired from CWC (Cable & Wireless Communications) in a deal finalised in  April 2013.

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Batelco Statement - Islands Disposal Update; Unwind of Monaco Telecom Disposal Agreement with CWC

Manama, Bahrain: Batelco Group (Ticker: BATELCO), today announced it has agreed with Cable & Wireless Communications Plc ("CWC") to unwind the previous transfer of a 25% shareholding in Compagnie Monegasque de Communication SAM ("CMC") from CWC to Batelco.

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Batelco Announces that Acquisition of CWC’s Business in the Seychelles has not Received Required Approvals to Proceed

Manama, Bahrain:Batelco Group (Ticker: BATELCO), the regional telecommunications operator headquartered in Bahrain, has announced that its acquisition of Cable & Wireless (Seychelles) ("CWS") has not received regulatory approval.

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Batelco Group Announces Third Quarter 2013 Profits of BD36.7 Million (US$97.3 Million)

Batelco Group (Ticker: BATELCO), the international telecommunications Group with operations across 14 countries, today announced its results for the nine-month period ended 30 September 2013 ("the Period"), which were positively boosted by contributions from its overseas operations including the recently acquired CWC Island Units ("Island Portfolio").  

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Batelco Statement regarding Seychelles Deal; Extension of Second Long Stop Date

Batelco Group (Ticker: BATELCO), today announced it has agreed with Cable & Wireless Communications Plc ("CWC") an extension to the Second Long Stop Date for the receipt of required consents and approvals for the sale of CWC's business in the Seychelles from 2 September to 2 December 2013.

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Batelco Group Announces Half Year 2013 Profits of BD 27 Million (US$ 71.6 Million); More than 8.6 Million Subscribers

Batelco Group (Ticker: BATELCO), the international telecommunications company with operations across 16 countries, today announced its financial results for the six months ended 30 June 2013 ("the Period"), which include results from the newly acquired Island Units (Dhiraagu, Channel Islands & Isle of Man, South Atlantic and Diego Garcia) from Cable & Wireless Communications (CWC) on 3rd April 2013.

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Batelco Group Announces Appointment of Supervisory Committee and COO to Lead Batelco Group

Due to the separation between Batelco Group CEO and the Company,  Batelco's Chairman Shaikh Hamad bin Abdulla Al Khalifa has announced that a supervisory committee and Chief Operating Officer (COO) have been appointed to lead the operation until a new Group Chief Executive Officer is appointed.

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Batelco Group Announces First Quarter Results 2013

Batelco Group (Ticker: BATELCO), the international telecommunications company with operations across 16 countries, today announced its financial results, profitability and operational performance for the three months ended 31 March 2013 ("the Period").

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Batelco Group Successfully Prices Inaugural Bond with US$650 Million Issuance

Batelco Group (Ticker: BATELCO), the international telecommunications company with operations across 16 geographies, today announced the successful launch and pricing of a US$650 million 7-year Reg S bond offering. The bonds are rated BBB - by both Standard & Poor's and Fitch.

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Batelco Completes Major Acquisition; Deal to purchase CWC’s Monaco and Islands Business Unit Finalised

Batelco Group (Ticker: BATELCO), the regional telecommunications operator headquartered in Bahrain, today announced the finalisation of its recent acquisition of various companies from Cable & Wireless Communications (CWC), which comprise its Monaco and Islands Division.

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Batelco Group Announces 2012 Financial Results

Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across six countries, today announced its results for the twelve-months ended 31 December 2012 ("the year"), which were marked by sound financial results and operating performance at its subsidiaries across the MENA region

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Batelco Group Shareholders Approve Acquisition of CWC’s Monaco and Island Business Unit

Batelco Group (Ticker: BATELCO), the regional telecommunications operator with operations across six countries, announcedthat its shareholders have voted to approve its acquisition of the various companies from Cable & Wireless Communications Plc (CWC) that comprise its Monaco and Islands Division, today at an Ordinary General Meeting of the Company held at its Hamala headquarters.

 

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Batelco Group AGM Approves BD36.0M (US$95.5M) Cash Dividends & 10% Bonus Shares for 2012

Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across six countries, today held its Annual General Meeting for the twelve-months ended 31 December 2012 ("the year") and additionally an Extra-Ordinary-General Meeting to discuss proposed changes to Batelco's Memorandum and Articles of Association. The meetings, held at Hamala headquarters, were attended by Shareholders, Company Directors, executive management, management, employees and members of the press.

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Batelco Group Announces Major Acquisition; Deal to Purchase CWC’s Monaco and Island Business Unit Agreed

Batelco Group (Ticker: BATELCO), the regional telecommunications operator with operations across six countries, today announced the acquisition of various companies from Cable & Wireless Communications (CWC), which comprise its Monaco and Islands Division.

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Batelco Group Investment Grade Credit Rating Affirmed by Fitch

Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across six countries, today announced that Fitch Ratings, a leading global credit ratings agency, has affirmed the Group's investment grade credit rating in line with  the underlying strength of its strategy, financial position and operating performance.

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International Arbitration Panel Decision Supports Batelco’s Request for Reduced TRA Fine

Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across six countries, announced today that the dispute with the Bahrain Telecommunications Regulatory Authority (TRA) since November 2009 relating to access to international cable facilities, has been resolved through an arbitration process involving an eminent panel of international legal experts.

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Batelco Group Announces Third Quarter 2012 Profits of BD 43 Million (US$ 114 Million); - Subscriber base grows to 7.4 million customers across six markets

Manama, Bahrain:Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across six countries, today announced its results for the nine-month period ended 30 September 2012 ("the Period"), which was marked by strong competitive conditions in the Kingdom of Bahrain and progress in overseas MENA markets.

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Batelco Clarifies Speculation

Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across six countries, following some press reports regarding an acquisition.

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Batelco Group Announces Half Year 2012; Profits of BD 34.6 Million (US$ 91.8 Million); Interim Dividend of 15 fils per share Approved by Board of Directors

Manama, Bahrain:Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across six countries, today announced its results for the six-month period ended 30 June 2012 ("the Period"), which were marked by the continued leadership in the Kingdom of Bahrain and strength in overseas MENA markets.

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Batelco Group Announces the Appointment of Marco Regnier as Group CFO

Manama, Bahrain: Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across six countries, today announced the appointment of Marco Regnier as Group Chief Financial 0fficer (CFO) with effect 1 May 2012.

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Batelco Group Announces First Quarter 2012 Financial Results; Reports BD16.1 million (US$42.7 million) Net Profit

Manama, Bahrain: Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across six countries, today announced its results for the first three months of the year ended 31 March 2012 ("the Period"). The period was marked by continued market leadership in the Kingdom of Bahrain, its home market, and solid contributions from overseas markets especially from Jordan and Kuwait.

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Batelco Group AGM Approves BD57.6M (US$152.8M) Dividend for 2011

Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across seven countries, today concluded the Annual General Meeting for the twelve-months ended 31 December 2011 ("the year"), where shareholders approved a full year cash dividend of BD57.6M (US$152.8M), which represents a 72% payout at a value of 40 fils per share. The Group already paid 20 fils per share during the third quarter of 2011 with the payment of the remaining 20 fils per share expected on 6 March 2012.

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Batelco Group Announces the Sale of its stake in STel India

Batelco Group (Ticker: BATELCO), the Middle Eastern regional telecommunications operator of reference with operations across seven countries, today announced the sale of its shareholding in STel Private Limited (STel), a mobile operator in India.

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Batelco Group Further Strengthens Commitment to Jordanian telecom market investing JD50 million in Umniah 3G License

Batelco Group, the regional telecommunications operator of reference with operations across seven countries announced that it is investing JD50M to obtain 3G license in Jordan, via Umniah, a 96% owned subsidiary.

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Batelco Group Announces 2011 Financial Results; Reports BD80 million (US$212 million) of Net Profits and a Record 11 Million Customers across Regional Network

Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across seven countries, today announced its results for the twelve-months ended 31 December 2011 ("the year"), which were marked by sound financial results and operating performance across its markets of operation in the MENA region and India.

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Group CEO of Batelco to Chair SAMENA Ccouncil Election of Shaikh Mohamed Bin Isa Al Khalifa by the Board of Directors Announced During SAMENA’s ‘Convergence to Doha 2011’

SAMENA (South Asia, Middle East, North Africa) Telecommunications Council, the tri-regional telecommunications consortium has announced Shaikh Mohamed Bin Isa Al Khalifa, Group CEO of Bahrain Telecommunications Company (BATELCO) as its new Chairman, unanimously elected by SAMENA's Board of Directors.

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Batelco Group Announces Third Quarter Results Marked By Continued Diversification and Growth of Regional Customer Base

Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across seven countries, today announced its results for the nine-month period ended 30 September 2011("the Period"), which were marked by the continued growth and diversification of its customer and revenue base from across the MENA region and India.

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Kingdom Batelco Consortium Statement Regarding Zain KSA Deal

The Kingdom Batelco Consortium announced today that it will not proceed with making a binding offer to acquire Zain Group's 25% stake in Zain KSA.

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Batelco and Kingdom Holding Company Consortium Statement

Batelco and Kingdom Holding Company (KHC) announced that its Consortium to purchase Zain Kuwait's 25% stake in Zain Saudi Arabia anticipates completing due diligence by the end of September 2011.

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Batelco Announces the Appointment of New Group Chief Executive Officer

Batelco's Chairman Shaikh Hamad Bin Abdulla Al Khalifa said that Batelco's Board of Directors is delighted to announce the appointment of a new Group CEO and the creation of a new executive role, responsible for Batelco's growth and transformation into one of the most admired communications companies in the Middle East Region.

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Batelco Extends its Services to 9.8m Customers Focus on Diversification to Offset Challenges in the Home Market

Batelco Chairman Shaikh Hamad Bin Abdulla Al Khalifa announced gross revenues of BD80.81 million (USD214.4 million) and net profit of BD17.46 million (USD46.3 million), for the first quarter of 2011, at a Batelco Group Board Meeting held on April 20 at Batelco's Hamala Headquarters.

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Batelco Statement RE Suspension of Shares

Following suspension of Batelco shares on the Bahrain Bourse, Batelco Group Chief Executive Peter Kaliaropoulos said that the Kingdom-Batelco Consortium non-binding offer to acquire the 25% stake in Zain KSA received endorsement from Zain Group Board on 14 March 2011.

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Batelco Group CEO Expresses Confidence in Group’s Ability to Raise Funds for Zain KSA Deal

Following suspension of Batelco shares on the Bahrain Bourse, Batelco Group Chief Executive Peter Kaliaropoulos said that the Kingdom-Batelco Consortium non-binding offer to acquire the 25% stake in Zain KSA received endorsement from Zain Group Board on 14 March 2011.

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Clarification from Batelco Group regarding the Non-Binding Offer, Jointly submitted with Kingdom Holding to the Board of Directors of Zain Kuwait to Acquire Its Stake In Zain Saudi

Further to announcements on 13 Mar 2011, by both Batelco Group (Batelco) and Kingdom Holding Company (KHC) to Bahrain Bourse, CBB, various Authorities and the general press, Batelco announced today that the Kingdom-Batelco Consortium has received acceptance of its non-binding offer from the Board of Directors of Zain Kuwait.

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Batelco Group and Kingdom Holding Company Combine to Bid for 25% of Zain KSA

Following preliminary discussions with Batelco Group (Batelco), and a meeting held between the two companies, Kingdom Holding Company (KHC), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, announces that it agreed with Batelco key terms for Batelco to be the telecom operator in a revised bid to acquire 25% of Zain KSA from Zain Kuwait.

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Steady Year-on-Year Gross Revenues and Record Customer Numbers from Batelco Group’s Market Leadership in Bahrain and Abroad

Batelco's Annual General Meeting took place on 23rd February at Batelco Headquarters in Hamala, with shareholders, company directors, senior management, employees and members of the press in attendance.

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Batelco Statement re Acquisition of Zain KSA Stake

Batelco Group confirmed today that its offer to acquire Zain Group's 25% stake in Zain KSA expired.

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Batelco Submits Offer for Acquisition of 25% of Zain KSA

Batelco Group, the leading telecommunications company in Bahrain and a regional operator with over 9.2 million customers, today announced that it has submitted an offer to acquire all the shares owned by Zain Group in Mobile Telecommunications Company Saudi Arabia (Zain KSA).

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Batelco Announces Net Profits of BD87 million ($230 million) for 2010 and a customer base of 9.2 million across its regional operations

Batelco Chairman Shaikh Hamad Bin Abdulla Al Khalifa announced full year results for the period ending 31 Dec 2010 following a Batelco Group Board Meeting held at Hamala Headquarters on Wednesday 26th January 2011. Gross revenues were steady at BD340.3 million ($902.7 million) and net profit of BD86.8 million ($230.2 million), a 17.4% decline over 2009.

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Strong Growth in Customer Base partially offsets Markets Share Losses in the Bahrain Market

Batelco Chairman Shaikh Hamad Bin Abdulla Al Khalifa announced that Batelco Group has reached over 7 million customers across its operations at the end of Quarter 2. He added however that intense competition in the Bahrain market contributed to lower Group net profits.

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Batelco Grows its Customer Base to 6.4m Customers Delivering Steady Growth whilst Diversifying Operations

Batelco Chairman Shaikh Hamad Bin Abdulla Al Khalifa announced net profit for the Group of USD 64.5 million (BD 24.3 m) and gross revenues of USD 227.8 million (BD 85.9 m), at Batelco's Group Board Meeting held on April 21st at Batelco's Hamala Headquarters.

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Growing Customer Base, Revenues and Profits in Bahrain and across Regional Markets

Batelco Group Chairman Shaikh Hamad bin Abdulla Al Khalifa said that Batelco's strategy in delivering a full range of  communications services  that offer the widest choices for customers in  Bahrain, and growing in regional markets, were the major factors in the Company's strong overall performance for 2009. The Batelco Group's annual financial results were announced at a Board meeting, held at Batelco Hamala headquarters on January 28th.

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