Mayer, Brown, Rowe & Maw Acts For Cable And Wireless Plc On Acquisition Of Guernsey Telecoms Limited

Mondaq Business Briefing, June, 2002

Mayer, Brown, Rowe & Maw have advised Cable and Wireless Plc ("C&W"), the global telecommunications group, in connection with their agreement to purchase Guernsey Telecoms Limited from the States of Guernsey. The purchase price is [pound]22.5 million, of which [pound]10 million will be deferred and paid in equal instalments on the first and second anniversaries of completion. C&W is paying a further [pound]1.3 million for an assignment of the rights that the States of Guernsey has in a fibre optic cable project which, when completed, will run from Guernsey to Jersey and France.

The completion of the purchase and assignment is conditional on, among other things, approval by the States of Guernsey which, if obtained, will allow the transaction to be completed in under...