Bahrain's telecom operator Batelco has said it is carefully studying the detailed judgement by the Supreme Court of India on February 3, in conjunction with STel Management, other STel shareholders and legal advisers.
The Supreme Court cancelled all 122 2G licences issued in 2008 to eight operators, including STel. Batelco invested in STel following a diligence exercise with the support of financial and commercial advisers, a company statement said.
It also received certain representations and warranties from STel's promoter regarding the validity of the licence.
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