We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Mon 7 Jun 2010 02:38 PM

Font Size

- Aa +

Batelco to expand into North Africa, Asia - CEO

Peter Kaliaropoulos says telco seeks to increase its customers by about 50% in 2010.

Batelco to expand into North Africa, Asia - CEO
GROWTH PLAN: Batelco plans to expand in North Africa and Asia as it seeks to increase its customers by about 50 percent in 2010.

Bahrain Telecommunications plans to expand in North Africa and Asia as the company, also known as Batelco, seeks to increase its customers by about 50 percent in 2010, Chief Executive Officer Peter Kaliaropoulos said.

“We have plans to have two new clusters, one in North Africa and one in India-Asia,” Kaliaropoulos said in an interview in Amman Monday. “We had 6.5 million customers at the end of the first quarter, and our objective is to reach ten million customers at the end of this year.”

Middle Eastern telephone service providers are expanding outside their home countries into markets with young and growing populations. These countries often have lower penetration rates, or numbers of people owning and using mobile telephones, than in more developed European or Persian Gulf markets.

Batelco said in April its first-quarter profit dropped seven percent to $64.5m. The company posted a record $279m profit in 2009.

The company’s shares fell 0.9 percent in Bahrain to 0.57 dinar Monday.

Arabian Business: why we're going behind a paywall

For all the latest Bahrain news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.