STC prices Bahrain licence at US$230 million

STC has reportedly offered BD86.68 million (US$230 million) for Bahrain’s third mobile licence, and is on track to have the offer ratified given it was the only participant to submit a financial bid. However, Bahrain’s regulator, the TRA, is yet to confirm whether the bid has been accepted.

The TRA has previously stated that STC passed pre-qualification requirements with group revenues in excess of US$9 billion per annum, operations in Saudi Arabia and six other countries, more than 60 million subscribers and deployments of the latest technology.

The two mobile incumbents are Batelco and Zain Bahrain, with Bahrain estimated to have a mobile penetration rate of between 120 and 140 per cent.