Batelco’s Chief Executive Peter Kaliaropoulos stated that the Atheeb/Batelco consortium is one of the three successful bidders to operate fixed line telecomm services in Saudi Arabia.
“Subject to satisfying a world defined approval process, outlined by CITC (Communications and Information Technology Commission) and also after receiving approval from the Council of Ministers, the Atheeb/Batelco consortium will be able to launch fixed telecommunication services,” said Mr. Kaliaropoulos.
“We plan to deploy various fixed and wireless technologies which will enable consumers and businesses to benefit from innovation and competition,” he added.
Batelco will hold 15% in the consortium. A new company will be formed with capital of SAR 1 billion. Batelco and the consortium partners will hold 65% with 25% for a public offering and the remaining 10% for GOSI (KSA) and pension fund (KSA).
“Should the consortium win spectrum it will pay SAR 500 million as fees. Batelco/Atheeb plans to role out broadband internet services and voice and data services at the earliest initially based on Wimax technology,” Mr. Kaliaropoulos explained.
“Batelco has been executing a strategy of regional expansion pursuing broadband and mobile opportunities in high growth markets. This is another milestone which will allow Batelco to leverage its best in class Bahraini innovation and expertise across MENA.”
“We are delighted to be in this position. The partnership with the Atheeb group and the expertise Batelco will inject in this new company will be critical ingredients for success in the future,” concluded Mr. Kaliaropoulos.
