Bahrain Telecommunications (Batelco) has decided to sell its 42.7% stake in Indian mobile operator S Tel to its Indian partner, Sky City Foundation, for US$174.5 million. Batelco’s decision came soon after the Indian government cancelled 122 licences in connection with the 2G telecom scam.
S Tel acquired unified access services licences to operate in six telecom circles: Orissa, Bihar, Himachal Pradesh, North East, Assam and Jammu & Kashmir. The government has ordered that these licences be revoked.
Prem Rajani, the managing partner at Prem Rajani Associates, and Purvi Kapadia, a partner at the firm, advised Sky City Foundation. Murali Neelakantan, a partner at Khaitan & Co, led the team which advised Batelco.
