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Cable & Wireless Communications PLC Announces Completion Of Macau Disposal

Thursday, 20 Jun 2013 07:50am EDT 

Cable & Wireless Communications Plc announced that the completion of the disposal of its 51% stake in Companhia de Telecomunicacoes de Macau S.A.R.L. to CITIC Telecom International Holdings Limited, announced on January 13, 2013 (the Disposal). At completion of the Disposal, CWC received total cash proceeds of USD806.8 million comprising consideration of USD749.7 million (on a cash and debt free basis) plus USD57.1 million representing the estimated proportionate share of net cash in CTM attributable to CWC and initial working capital adjustments. The consideration for the Disposal remains subject to normal post-completion cash, debt and final working capital adjustments.