Manufacturing Industry
Cable and Wireless agrees sale of C&W IDC for GBP72.4m.
PR Newswire UK Disclose, October, 2004
CABLE & WIRELESS AGREES SALE OF CABLE & WIRELESS IDC TO SOFTBANK CORP FOR [pounds sterling]72.4
MILLION
Cable and Wireless plc ("Cable & Wireless") announces today (26 October 2004)
that it has agreed to sell its Japanese business, Cable & Wireless IDC Inc.
("IDC") to SOFTBANK Corp. ("Softbank") for a consideration of [pounds sterling]72.4 million*
(including the assumption of debt amounting to [pounds sterling]9.5 million). The transaction
is expected to complete in the fourth quarter of 2004/05.
Cable & Wireless will retain network capability in Japan with two international
data nodes. This will allow Cable & Wireless to continue to provide its
international customers with services to and from Japan. Cable & Wireless
operations...
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