Sept. 29 (Bloomberg) -- Bahrain Telecom Co. said it will not proceed with an offer to acquire a 25 percent stake in Mobile Telecommunications Co. of Saudi Arabia, according to a company statetement e-mailed today.

To contact the reporter on this story: Shaji Mathew in Dubai at shajimathew@bloomberg.net

To contact the editor responsible for this story: Maher Chmaytelli at mchmaytelli@bloomberg.net