28th Oct 2005 06:00
Announcement 28 October 2005Cable & Wireless completes sale of stake in Mobile One Limited to TMInternational Sdn Bhd (a wholly owned subsidiary of Telekom Malaysia Berhad)and Khazanah Nasional Berhad.Cable and Wireless plc ("Cable & Wireless") announces today, 28 October 2005,the completion by its subsidiary Great Eastern Telecommunications Limited("GET") of the sale of its entire shareholding in Mobile One Limited ("M1")representing approximately 12.1 percent of the issued and paid up capital ofM1. GET is a joint venture between Cable & Wireless (51 percent) and PCCWLimited (49 percent).The purchaser is SunShare Investments Ltd (the "Purchaser"), a joint venturebetween TM International Sdn Bhd (a wholly owned subsidiary of Telekom MalaysiaBerhad) and Khazanah Nasional Berhad.The consideration will be S$2.20 per share being S$260.8million in total (‚£86.6million at the exchange rate at close of business on 27 October 2005) of whichCable & Wireless is entitled to ‚£44.2 million through its 51 percent holding inGET.JPMorgan Cazenove acted as financial adviser to Cable & Wireless in thistransaction.EndsInvestor Relations: Louise Breen Director, Investor Relations +44 20 7315 4460 Craig Thornton Manager, Investor Relations +44 20 7315 6225 Media: Lesley Smith Group Director of Corporate & Public +44 20 7315 4013 Affairs Steve Double Head of Media Relations +44 (0)1344 726 946 Press Office Cable & Wireless +44 (0)1344 818 888 About Cable & WirelessCable & Wireless is one of the world's leading international communicationscompanies. It provides fixed and mobile voice, data, IP (Internet Protocol) andbroadband services to business and residential customers, as well as servicesto other telecom carriers, mobile operators and providers of content,applications and internet services.Cable & Wireless' principal operations are in the United Kingdom, theCaribbean, Panama, Macau and Monaco. For more information about Cable &Wireless, go to http://www.cw.com.ENDCable & Wireless PLCRelated Shares:
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