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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.

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