The Bahraini telecoms operator hopes that new acquisitions will bring in revenues to compensate domestic losses.
The Kuwait telco also said it would back a subscription by its Saudi affiliate.
The UAE based telecoms operator said that it was the first operator to provide 3G services in the country.
The indebted telco has appointed Fraser Curley as chief executive, its third CEO in six months.
The Saudi Arabia-based telecoms operator is keen to build a domestic partnership with a mobile virtual network operator.
The telecoms operator reported a net profit excluding royalty of Dhs1.8 billion in 2011, a 47.8 per cent rise over the previous year.
The telecoms operator will not let go of any UAE citizens as part of the move, which is part of a restructuring plan to cut costs.
The decision follows the ruling of an Indian court to cancel 122 telecoms licences in the country amid a corruption scandal.
The telecoms operator said it is discussing restructuring options as it struggles to stall dropping profits.
The Finnish telco partnered with Microsoft in a bid to claw back market share last year
The Bahraini telecoms operator will receive $174.5 million, the same amount that it paid to purchase the stake in the Indian firm.
The telecoms operator might also share infrastructure facilities with other carriers.
The Bahraini firm saw its subscriber base increase by 20 per cent year-on-year in 2011.
Regional telcos are throwing cash at data investments and looking further afield as high penetration levels squeeze profits.