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Batelco expects 2010 profit below BD100m

24 July 2010

Batelco expects its full-year net profit to be lower than BD100m ($265.3m), due to increased competition in Bahrain, Reuters has reported. "Below BD100m is the best I can offer now," chief executive, Peter Kaliaropoulos told a news conference in Manama. The telco's mobile market share in Bahrain is expected to further fall to about 47% at year-end, from the current 49%, he said. The company plans to make an acquisition worth about $1.5bn-$2bn in North Africa or Asia, he added, noting that there was little progress so far.

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