LONDON Oct 30 Cable & Wireless Communications
has paid $100 million to Panama's government to extend
its mobile licence by 20 years, allowing the British telecoms
firm to continue growing its mobile data services footprint in
Panama is one of Cable & Wireless's main markets since the
company decided to sell its assets in Macau and Monaco as part
of a new strategy to focus on the pan-American region.
The company said on Wednesday the agreement, which will run
from 2017 to 2037, will allow it access to several large blocks
of Panama's radio spectrum. It said the payment for the licence
agreement will be made from existing cash resources.
"In securing our long term future this agreement cements our
position and ensures we can remain and grow as the best data
provider in Panama," CWC's Chief Executive Tony Rice said.