Bahrain Batelco cancels plans to sell Jordan's Umniah -CEO

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(Updates with more quotes, details) * Batelco eyes investments in other tech companies -CEO * Rules out selling stakes in Jordan, Yemen units * Fibre broadband build-out to lift capex in 2016 * Warns Saudi affiliate must change business model By Matt Smith MANAMA, Feb 21 (Reuters) - Bahrain's Batelco has cancelled plans to sell Jordanian telecom operator Umniah, the former mo**poly's chief executive told Reuters, citing market conditions as it instead aims to make acquisitions itself. In January, Batelco revealed it had received **n-binding bids for Umniah, which accounted for a fifth of the parent's 2015 revenue and in which it holds a 96 percent stake. "We're going to terminate the sale process," said group CEO Ihab Hinnawi.

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