Latest News Headlines
On-Air Now
Listen Live
Facebook

CWC sell Islands business

Mon, 03 Dec 2012


Cable and Wireless Communications has sold its Islands business – including the Isle of Man – to a Bahrainian telecommunications company.

It means "Sure” will now be owned by Batelco following a $680 million deal which is due to be finalised by the end of the financial year.

CWC has also sold the majority of its businesses within Monaco, the Maldives and Channel Islands.

According to the company it’s part of a strategy to re-shape its business, reduce its geographic spread and to allow focus on the Central American and Caribbean regions.

CWC says it believes Batelco will be an excellent owner and operator – although the deal is still subject to approval from shareholders.

Batelco says the Islands portfolio is a premium telecoms business and it is pleased to have agreed a deal.


 

Subscribe to get Energy FM News direct to your mobile device

You can get Energy FM News delivered direct to your mobile device using one of the following methods.

  • In the Apple News App on iOS search for Energy FM IOM and then just add it to your favourites
  • In the Google News & Weather App just search for Energy FM and then add us as a customised section
  • If you use an RSS Reader then just add our feed to your app, click here for our news RSS feed