CWC and Batelco today completed the transaction which resulted in the ownership of all of Cable & Wireless Communications operations across the Channel Islands and the Isle of Man by Batelco Group.
Batelco Group is the leading telecom operator in Bahrain and serves 7.8 million customers across six markets in the Middle East. Its commitment to delivering excellent standards of customer care and the ability to innovate provide the cornerstone of the company’s commercial strategies, which has underpinned 17% growth in its mobile customer base last year.
“We are delighted that the sale has completed successfully and I am confident that this change of ownership will bolster our ability to deliver innovation through leading edge products and services that islanders deserve. Batelco Group has emphasised its willingness to support our existing strategy and continue to invest in local mobile and broadband infrastructure. We are looking forward to working with our new colleagues” stated Eddie Saints, Chief Executive of Sure Operations in the Channel Islands and Isle of Man.
Eddie Saints added “Batelco is well placed to invest significantly in the Isle of Man and this will benefit both our business and consumer customers. This is an exciting time for our clients and everyone who works at Sure, because Batelco is a very dynamic company with a clear vision of a highly connected future, which will be crucial to the future success of the Isle of Man.”
Mohamed Al Khalifa, Batelco Group CEO, stated; “We welcome all our Sure colleagues into the Batelco Group. Today is an important milestone for our company but the acquisition itself is not our key focus. We are committed to ensuring the leadership teams of the various operating companies remain vigilant on what matters most: serving and delighting our customers on a daily basis. Ensuring we deliver advanced services to allow our customers to communicate and transact in an increasingly digital world, and to do so with the right level of customer care, is our most important priority”
Batelco, which is listed on the Bahraini Bourse and has a history stretching back nearly 150 years, is the leading telecom operator in the Kingdom of Bahrain serving 7.8 million customers across six jurisdictions in the Middle East and North Africa.
In the financial year to December 2012, the firm grew its mobile customer base by 17% and broadband customers by 52%. In the process, it generated net profits of over US$200 million from revenues of US$808 million.
Batelco has acquired the entire CWC interest in Sure Channel Islands and Isle of Man, Dhiraagu (Maldives) and CWC operations in Falkland Islands, St Helena, Ascension and Diego Garcia (“SADG”). Batelco also acquired 25% shareholding in Compagnie Monégasque de Communications SAM (“CMC”), which holds CWC’s 55% interest in Monaco Telecom. Total consideration paid for these assets was $570m.
The acquisition of CWC’s Monaco and Islands Division will add 11 more operations to Batelco’s global footprint and will see the company operating in European markets for the first time.
Strategically, Batelco is focused on diversifying and expanding its geographic reach in mobile and broadband markets whilst accelerating growth in those markets where it already has a presence.
Importantly, the company is committed to excelling in its main areas of market differentiation: delivering excellent standards of customer care and leading edge value added services.