C&W eyes sale of Bahrain Telecom stake

Cable & Wireless is looking at selling its 20% shareholding in Bahrain Telecom, an AFP report said.


"Cable & Wireless confirms that it is in discussions concerning the potential disposal of its 20% holding in Bahrain Telecom (Batelco) to a third party or parties," the report, quoting a C&W statement, said.


The process was at a preliminary stage and there was no certainty that it would lead to a transaction, the report said.


An earlier Financial Times report said the stake could be worth about 350 million pounds ($610 million).


The report said majority of Batelco was owned by the government of Bahrain.