Posts filed under ‘2Connect’
Saudi Telecom company (STC) has won Bahrain’s third mobile network operating licence with a bid of BHD86.7 million (USD231 million), the country’s Telecommunications Regulatory Authority (TRA) announced yesterday, breaking the duopoly of state-run Batelco and Kuwaiti-owned Zain. According to Reuters, STC plans to launch its Bahraini operations in the second half of this year and aims to acquire a 20% market share in ten years. The Saudi telco has also committed itself to establishing a USD300 million venture capital fund in Bahrain that will nurture communications and IT companies in the region. Three other firms had registered interest in the auction, but did not bid. Mohammed al-Amer, chairman of the TRA, confirmed that these were Bahraini operators 2Connect and Mena Telecom alongside a consortium including France Telecom subsidiary Jordan Telecom. Saudi Arabia and Bahrain have strong links, as several million people cross a causeway linking the two kingdoms every year.
Bahrain-based alternative telco 2Connect and Saudi Arabian cellco Etihad Etisalat (Mobily) will place a joint bid for the third mobile licence in Bahrain, reports Gulf Daily News. 2Connect said that it had been looking at bringing in other partners but there was not enough time before Sunday’s deadline, adding that there could be an opportunity for other investors to come onboard in the future, alongside a possible IPO. According to the newspaper, TRA general director Alan Horne said that two other operators had already confirmed they would be bidding for the licence.