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

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.

CWC has re-paid to Batelco the $100 million paid by Batelco to CWC upon completion of the Islands disposal and Batelco has re-transferred to CWC the 25% shareholding in CMC.  All option arrangements between CWC and Batelco in relation to CMC have terminated.

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