BNET Inks Asset Transfer Deal with stc Bahrain

Bahrain Network (BNET), the national company responsible for providing fiber-based broadband networks in the kingdom, and stc Bahrain, a digital enabler, have signed an asset transfer deal.

Under the agreement stc Bahrain will transfer its fiber assets to BNET. This agreement aligns with the Fifth National Telecommunications Plan, with the aim of achieving a single network objective under BNET, thereby supporting sustainable and competitive growth in Bahrain’s telecommunications and ICT sectors, said a statement.

BNET has partnered with licensed operators and worked closely with the Telecommunications Regulatory Authority to make available the appropriate wholesale access products, the NRU and the MDS-U in order to ensure equal access for all operators to the fixed infrastructure, it said.

Ahmed Jaber Alhogbani Aldoseri, CEO of BNET, said: “We are in the midst of a new chapter in the development of the local telecommunications sector, where we have introduced fairer competition among telecommunications companies in the retail sector for the benefit of consumers. We are pleased to be finalising our agreement with stc Bahrain, which will contribute to fulfilling the objectives of the NTP5. We are confident that this step will play a pivotal role in realising the government’s vision and cement Bahrain’s position as a leading regional destination in the telecommunications and technological innovation sector.”

Eng. Khalid Al Osaimi, CEO of stc Bahrain, stated: "stc Bahrain is proud to partner with BNET in this transformative initiative for Bahrain's digital economy and Bahrain Economic Vision 2030. The transfer of our fiber assets to BNET is a key milestone, supporting national policy and ensuring equal access to ultrafast broadband services.

“stc Bahrain has worked closely with BNET to ensure the successful execution of this asset transfer agreement which is a key step in the realisation of the national policy vision of a single fiber broadband network. The transfer has been enabled by TRA approval of wholesale products which will allow stc Bahrain to continue serving its customers with the same excellent quality of service and coverage that we have been offering since our inception. This agreement will allow stc to continue delivering superior, sustainable services that benefit consumers, businesses, and the entire Bahraini community, empowering Bahrain's digital future for generations to come," Eng Al Osaimi said.