The head of a Bahrainian telco says he’s confident about the future of Cable & Wireless on the Isle of Man, after revealing more details about a planned takeover.
Batelco Group is to buy Cable & Wireless Communications Islands Division, covering the Maldives, Channel Islands and Isle of Man, the Seychelles, South Atlantic and Diego Garcia.
The deal will see the Bahrainians raise $1 billion through a bond issue later this year.
Group chief executive Shaikh Mohamed bin Isa Al Khalifa says the island operations are attractive because competition is limited and the companies offer low growth but stable income.
He also says there’s the possibility of launching new products developed in the group’s other markets.
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