Batelco to take control of

Bahrain Telecommunications, or Batelco, will take majority control of Kuwait’s Qualitynet after agreeing to double its stake in the Internet provider, Batelco said on Thursday.

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Published: Fri 21 Feb 2014, 10:42 PM

Last updated: Fri 3 Apr 2015, 5:53 PM

Batelco will buy 46 per cent of Qualitynet from Ali Al Ghanim & Sons for an undisclosed fee, raising the Bahraini firm’s holding to 90 per cent from 44 per cent previously. The deal will likely be concluded in March, a company statement said.

Kuwait’s Ministry of Communications ultimately owns and operates the country’s fixed-line infrastructure, with about four major Internet service providers including Qualitynet paying the government to use it. Qualitynet’s 2013 revenue was 31.3 million dinars ($83.0 million), down 8.9 per cent from 2012, which provided Batelco with a profit of 2.41 million dinars, the latter’s annual report shows. As of September 2012, Qualitynet claimed a 45 per cent share of Kuwait’s fixed-line Internet market, which operates largely on a copper-based network.

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