Batelco acquires Dhiraagu shares, becomes majority shareholder

Bahrain Telecomunications Company (Batelco) has acquired the majority share of Dhivehi Raajjeyge Gulhun Public Limited (Dhiraagu) after the purchase of majority of assets in Monaco & Islands business unit from Cable & Wireless Communications Public Limited (CWC). Cable & Wireless Communications was the majority shareholder of Dhiraagu.

With the new change of shares, Batelco now holds 52% majority shares of Dhiraagu, the biggest telecommunications service provider in the Maldives. Board of Directors of Dhiraagu has also been reconstituted after the change, and now consists of; Ibrahim Athif Shakoor, Chairperson and Government Director, Idham Hussain, Government Director, Shaikh Mohamed bin Isa AlKhalifa, Batelco Director, Ibrahim Shareef Mohamed, Independent Director, Marco Regnier, Batelco Director, Dr. Ghassan Murad, Batelco Director, and Ismail Waheed, CEO and Managing Director of Dhiraagu.

Following the transaction between Bahrain's leading telecoms services provider Batelco Group and British multinational telecommunications company Cable & Wireless Communications (CWC), Batelco Group chairman, Shaikh Hamad bin Abdulla Al Khalifa said said that as a result of the deal and the further diversification of their business, they now have the opportunity to deliver greater innovation and value to their customers across many markets whilst also enhancing their ability to maintain strong levels of profitability and to deliver on their commitments to shareholders.