LONDON, Dec 2 (Reuters) - Cable & Wireless Communications is considering options for its assets in the Seychelles after Bahrain Telecommunications Co failed to secure approval to buy the business by a set date.
“Cable & Wireless Communications has been notified that all necessary approvals for the sale of its business in the Seychelles to Batelco Group have not been granted,” it said.
“Accordingly, that disposal did not complete by the long-stop date agreed with Batelco and CWC will be considering its options for the Seychelles business.”
The state-controlled buyer, known as Batelco, said a year ago it would buy CWC’s Monaco and Islands division, which owned stakes in telecom operators in 12 markets including the Maldives, Channel Islands and the Seychelles, providing fixed-line, mobile, broadband and television services.
Shares in the British group fell 1.9 percent on the news.