March 26, 2007
Batelco, SabaFon stake
Yemen: Batelco is purchasing a 20% shareholding in Yemen's mobile communications company SabaFon, for $144m in cash. Batelco is purchasing the stake directly from Sheikh Hameed Al Ahmar, SabaFon's largest shareholder and Chairman, and the Al Ahmar Group will remain SabaFon's largest single shareholder. SabaFon is the largest GSM mobile operator in Yemen with over 500 base stations across the country and 1.2m mobile subscribers at the end of February. [AMEInfo.com]