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Thu 22 Jul 2010 11:52 AM

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Batelco sees 2010 profit below BD100m - CEO

Bahrain Telecoms boss says making a buyout abroad is going to be 'a slow process'.

Batelco sees 2010 profit below BD100m - CEO
BATELCOS BUYOUTS: Bahrain Telecoms boss says making an acquisition abroad is going to be a slow process.(Getty Images)

Bahrain Telecommunications (Batelco) sees full-year net profit to be below 100 million dinars ($265.3m), its chief executive said on Thursday.

"Below BD100m is the best I can offer now," said Chief Executive Peter Kaliaropoulos when asked how much full-year profit he expected for the full-year.

Speaking at a news conference in Manama, Kaliaropoulos said making an acquisition abroad was going to be "a slow process."

The operator has earmarked up to $2bn for an acquisition in Africa or southeast Asia to expand overseas after it bought a 49 percent stake in Indian mobile operator S Tel Ltd for $225m last year. (Reuters)

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