1. On 4 April 2016 the Telecommunications Regulatory Authority (“the Authority”) received notification of a proposed transaction pursuant to Article 2 of the Telecommunications Mergers and Acquisitions Regulation (“the Regulation”). Under the proposed transaction, CSC SAL (Holding) (“CSC”) a Lebanese holding company owned by CSCBank SAL shall acquire, within the meaning of Article 1.2(b) of the Regulation, 23.4% of IMC Telecom WLL (“IMC”) shares purchased from Philippe Jabre.
2. The parties to the transaction are involved in the following activities:
- IMC Telecom WLL: telecommunications
- Philippe Jabre: investor in international portfolios management
- CSC SAL (Holding): banking and credit card processing.
3. The parties to the transaction hold the following telecommunications licences:
- Individual Licence for International Telecommunications Services
4. On preliminary examination, the Authority finds that the notified transaction could fall within the scope of the Regulation. However, the final decision on this point is reserved.
5. The Authority invites interested third parties to submit their comments on the proposed transaction to the Authority, along with supporting documentation and/or evidence (if any).
6. Comments should be submitted to the Authority no later than fourteen (14) days from the date of this announcement. Comments may be sent to the Authority with the reference number LAD/0416/078 to the following address:
Telecommunications Regulatory Authority
PO Box 10353
Kingdom of Bahrain
Fax: +973 17532125