20th May 2014 15:53
20 May 2014
CABLE & WIRELESS COMMUNICATIONS PLC
Completion of Monaco Telecom Disposal
Cable & Wireless Communications Plc ("CWC") today confirms the completion of the sale of Compagnie Monégasque de Communication S.A.M. ("CMC"), the holding company for CWC's 55% stake in Monaco Telecom S.A.M. ("Monaco Telecom"), to a private investment vehicle controlled by Xavier Niel, as announced on 25 April 2014 (the "Disposal").
At completion of the Disposal, CWC received consideration of €321,788,000 ($445 million) on a cash and debt free basis. In addition, CWC received €6.2 million relating to the estimated cash, debt and working capital at completion which remains subject to customary post-completion adjustments.
---
For further information contact:
Cable & Wireless Communications Plc | |
Investors | |
Kunal Patel | +44 (0) 20 7315 4083 |
Mike Gittins | +44 (0) 20 7315 4184 |
Media | |
Lachlan Johnston | +44 (0) 20 7315 4006 / +44 (0) 7800 021 405 |
Steve Smith | +44 (0) 20 7315 4070 / +44 (0) 7785 778 375 |
Notes to Editors:
About Cable & Wireless Communications Plc
Cable & Wireless Communications is a full service communications business. We operate leading communications businesses offering mobile, broadband and domestic and international fixed line services in most of our markets as well as pay TV, data centre and hosting, carrier and managed service solutions. Our operations are focused on providing our customers - consumers, businesses, governments - with world-class service. We are the market leader in most products we offer and territories we serve. For more information visit www.cwc.com.
Related Shares:
CWC.L