15th Oct 2014 12:51
LONDON (Alliance News) - Cable & Wireless Communications PLC said Wednesday it has agreed to sell its 32.577% interest in Solomon Telekom Co Ltd to the Solomon Islands National Provident Fund Board for USD16.5 million in cash.
Cable & Wireless said that the sale marks its exit from the South Pacific region, as it has previously sold interests in businesses in Vanuatu and Fiji.
Solomon Telekom is a telecom operator in the Solomon Islands providing mobile, fixed voice and broadband services.
Shares in Cable & Wireless are trading up 0.1% at 44.18 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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