Key Developments: Cable & Wireless Communications PLC (CWIXF.PK)
0.65USD
21 May 2013
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899
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Latest Key Developments (Source: Significant Developments)
Cable & Wireless Communications PLCEnters Into Strategic Alliance with Columbus Networks Ltd through Joint Venture
Cable & Wireless Communications PLC ((CWC) announced that it has entered into a strategic alliance with Columbus Networks Ltd (Columbus) to develop its international wholesale capacity business. Under the alliance, CWC and Columbus will form a joint venture in the pan-America region which will provide international wholesale capacity to both companies, as well as to third party carriers. The joint venture will initially operate on an agency basis by providing joint sales and marketing services for each of CWC's and Columbus' international wholesale capacity services. Columbus has a 72.5% majority share in, and management control of, the joint venture and CWC has a 27.5% share with appropriate minority protections. The alliance will be broadened within the next two years with Columbus and CWC contributing their sub-sea and related assets into the joint venture company, subject to obtaining regulatory approvals and certain other conditions being met. Until then, Columbus and CWC will retain complete ownership and control of their respective existing networks in the region. Once the applicable approval requirements and conditions have been met, the joint venture will then assume ownership and management control of the international wholesale capacity operations of CWC and Columbus and all new investments in infrastructure will be made, and owned by it. Full Article
Bahrain Telecommunications Co BSC Completes Acquisition Of Various Companies From Cable & Wireless Communications (CWC)
Bahrain Telecommunications Co BSC (Batelco) announced the finalization of its recent acquisition of various companies from Cable & Wireless Communications (CWC), which comprise its Monaco and Islands Division. Batelco has acquired the entire CWC interest in Dhiraagu (Maldives), Sure Channel Islands and Isle of Man and CWC operations in Falkland Islands, St Helena, Ascension and Diego Garcia (SADG). Batelco also acquired 25% shareholding in Compagnie Monegasque de Communications SAM (CMC), which holds CWC’s 55% interest in Monaco Telecom. Total consideration paid for these assets was USD 570 million. Full Article
Cable & Wireless Communications PLC Announces Completion Of Monaco & Islands Disposal
Cable & Wireless Communications PLC announced the completion of the disposal of the majority of its Monaco & Islands division, announced on December 3, 2012 (the Disposal). CWC has received the required consents and approvals for the sale of its businesses in The Maldives, the Channel Islands and the Isle of Man, the South Atlantic and Diego Garcia to Batelco Group (Batelco). Consequently the conditions for the Disposal as outlined in the Circular to Shareholders dated December 19, 2012 (the Circular) have been satisfied and the Disposal has completed in respect of those businesses. Full Article
Bahrain Telecommunications Co BSC Approves Acquisition and Equity Investment Of Various Companies From Cable & Wireless Communications Plc
Bahrain Telecommunications Co BSC (Batelco) announced that its shareholders has approved the acquisition of the various companies from Cable & Wireless Communications Plc (CWC) that comprise its Monaco and Islands Division. Batelco has received the shareholder approval of its proposed acquisition of the entire CWC interest in the Maldives, Channel Islands and Isle of Man, the Seychelles, South Atlantic and Diego Garcia as well as a 25% shareholding in Compagnie Monagesque de Communications SAM (CMC), which holds CWC’s 55% interest in Monaco Telecom. In addition, Batelco and CWC have entered into put and call arrangements in relation to CWC's remaining 75% interest in CMC, allowing Batelco to acquire a controlling interest in Monaco Telecom in line with certain previously announced terms and conditions. Full Article
Cable & Wireless Communications PLC's Sable Holding Limited Announces Disposal Of 50% Stake In Companhia de Telecomunicações de Macau S.A.R.L To CITIC Telecom International Holdings Limited
Cable & Wireless Communications PLC announced that it has agreed with CITIC Telecom International Holdings Limited (CITIC Telecom) the sale of CWC's 51% stake in Companhia de Telecomunicações de Macau S.A.R.L. (CTM) for a total consideration of USD749.7 million (the Disposal). CWC's controlling 51% stake, held through its wholly-owned subsidiary Sable Holding Limited, will be acquired by CITIC Telecom, which holds an existing 20% shareholding in CTM. Concurrently with the Disposal, CITIC Telecom has announced it has agreed with Portugal Telecom (PT) to acquire its 28% stake in CTM (the PT Disposal). Both CWC's Disposal and the PT Disposal are conditional on the completion of each other. At completion of both transactions, CITIC Telecom will own 99% of CTM. The USD749.7 million consideration for the Disposal (on a cash and debt-free basis and assuming a normal level of working capital) will be paid in cash by CITIC Telecom to CWC upon completion of the transaction (Completion). Completion is expected to take place within six to nine months. The cash proceeds arising from the Disposal will be used to reduce the Company's net borrowings, increasing its strategic and financial flexibility. Full Article
Cable & Wireless Communications PLC Declares Interim Dividend
Cable & Wireless Communications PLC announced an interim dividend of 1.33 cents per share. The dividend is to be paid on January 11, 2013 to shareholders of record on November 16, 2012. Full Article
Bahrain Telecommunications Co BSC Reaches Deal To Buy Cable & Wireless Communications Plc Assets-Reuters
Reuters reported that Bahrain Telecommunications Co BSC (Batelco) has reached an agreement with Cable & Wireless Communications Plc to buy the British telco's assets in Monaco and a host of island nations, in a deal potentially worth up to $1 billion. As part of the deal, Bahrain's state-controlled operator will buy CWC assets in Maldives, Channel Islands and Isle of Man, the Seychelles, South Atlantic and Diego Garcia. Full Article
Bahrain Telecommunications Co BSC Issues Further Information Concerning Various Companies Acquisition From Cable & Wireless Communications PLC
Bahrain Telecommunications Co BSC (Batelco) announced that it has signed deal to acquire various companies from Cable & Wireless Communications PLC (CWC), which comprise CWS's Monaco and Islands Division. Batelco will acquire the entire CWC interest in The Maldives, Channel Islands and Isle of Man, the Seychelles, South Atlantic and Diego Garcia as well as a 25% shareholding in Compagnie Monagesque de Communications SAM (CMC), which holds CWC's 55% interest in Monaco Telecom, for a consideration of USD 680 million. In addition, Batelco and CWC have entered into put and call arrangements in relation to CWC's remaining 75% interest in CMC, allowing Batelco to acquire a controlling interest in Monaco Telecom for an additional consideration of USD 345 million. These options can be exercised within 12 months of closing of the Acquisition, subject to satisfactory regulatory and other consents, including approval of the Principality of Monaco. In the event such consents are received within the above period, the total consideration for the entire Monaco and Islands division will be USD 1.025 billion. If the necessary consents are not obtained, the 25% shareholding in CMC acquired as part of the Acquisition will be sold back to CWC for USD 100 million pursuant to a further option arrangement between CWC and Batelco. Full Article
Cable & Wireless Communications PLC Declares Interim Dividend
Cable & Wireless Communications PLC announced that an interim dividend of US1.33 cents per share will be paid on January 11, 2013 to ordinary shareholders on the register at the close of business on November 16, 2012. Full Article
Bahrain Telecommunications Co BSC Eyes Cable & Wireless Communications PLC Assets In $1 Billion Telco Deal-Reuters
Reuters reported that Bahrain Telecommunications Co BSC is in talks with Cable & Wireless Communications PLC to buy its assets in Monaco and a host of island nations, a deal potentially worth around $1 billion. CWC confirmed Batelco had approached it for the assets, saying there was no guarantee talks would lead to a deal. BNP Paribas and Citigroup are advising Batelco on the transaction, while J.P. Morgan Chase is advising the seller. Full Article
BRIEF-Bahrain Batelco completes $570 mln buy of C&W Comms assets
DUBAI, April 3 - Bahrain's Batelco completes $570 million purchase of some Cable & Wireless Communications' assets - statement.
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