Batelco Is Debt Free With $286 Million in Cash, Bank Balances
Bahrain Telecommunications Co. (BATELCO), the state-controlled company known as Batelco, is debt-free and posted a 24 percent annual increase in cash and bank balances to $286.2 million as of Dec. 31, the company said in an e-mailed statement today.
Batelco reported a profit of 80 million dinars ($212 million) for 2011 on Jan. 23.
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