Batelco confirms interest in Zain Saudi Arabia

Qtel Group may not have it all its own way when it comes to bidding for Zain Saudi Arabia given confirmation from Batelco Group CEO Peter Kaliaropoulos that his company may be interested in the asset should Zain Group be pushed to dispose of it as a result of an approach by Etisalat.

Kaliaropoulos has clarified that interest in opportunities such as the one that may be presented in Saudi Arabia is part of Batelco’s strategy to explore suitable M&A opportunities outside of Bahrain.

“We have many times reiterated that we continue to look for viable opportunities to deliver sustainable growth and value to our shareholders as our home market has reached very high penetration levels. Our strategic focus remains the Middle East region in addition to North Africa, India/Asia Pacific.”

Batelco is already present in Saudi Arabia through its investment in alternative provider Atheeb, and thus Kaliaropoulos suggests it would only be natural that should the opportunity be presented to invest further in the kingdom, Batelco explore it.

At this point Batelco is not in direct discussion with any parties involved but Kaliaropoulos has indicated that the telco’s M&A team is investigating the feasibility of the Zain Saudi Arabia opportunity.