Bahrain-based telecoms firm Batelco has announced the completion of its legal separation into two entities to cover broadband infrastructure and retail operations.
Batelco has recently announced the appointment of Mohamed Bubashait as the CEO of the new infrastructure company for national broadband and Mikkel Vinter as the new CEO of Batelco Bahrain, which will be the entity responsible for the retail and enterprise operations.
The two separate entities will remain under the ownership of Batelco.
The completion of the separation was announced by Kamal bin Ahmed Mohamed, Minister of Transportation and Telecommunications which is part of the country's 4th National Telecommunication Plan (NTP4).
He said: “We have worked closely with Batelco to coordinate with all governmental entities and stakeholders in order to create comprehensive plans for the facilitation of the legal separation and restructuring of the two companies.
“The new infrastructure company will work with the government to create a fibre optic network providing residents in all areas of the kingdom with high-speed internet access."
Batelco chairman, Sheikh Abdulla bin Khalifa Al Khalifa, said the move also included the restructuring of the executive management teams, plus the separation of operations systems and human resources.
“It is a priority for the board of directors to achieve the highest possible returns as well as enriching future returns, and ensuring the continuous and sustainable success of the company in the long run,” he said.
“We also want to confirm that the restructuring of the company... is going to create new horizons for Batelco and opportunities to invest in digital technology and furthermore, create new and diverse revenue streams which is in line with the kingdom’s vision for the growth of the digital economy.”For all the latest tech 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.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.