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.

To contact the reporter on this story: Tamara Walid in Dubai via twalid@bloomberg.net

To contact the editor responsible for this story: Inal Ersan at iersan@bloomberg.net