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Bahrainian firm gets 96 percent stake in Jordan's Umniah
Africa & Middle East Telecom, July, 2006 by Anonymous
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JORDAN
Bahrain's Batelco has acquired a 96 percent stake in Jordan's mobile company Umniah in a deal of around $415 million. Batelco's chairman, Hassan Jumah, signed the deal with Jordan-based Umniah Mobile Communications (UMC) shareholders on June 24. Batelco is owned by the government, and 20 percent is held by Cable and Wireless of Bahrain. Michael Dagher, founder of Umniah, was very optimistic about the deal. The value for the company's assets is high because of high oil ...
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