Cable & Wireless PLC - Cable & Wireless in sale and leaseback agreement.

PR Newswire UK Disclose, April, 2007

 
      Cable & Wireless in sale and leaseback agreement with British Land 
 
Cable & Wireless announces that it has today completed a 25 year sale and 
leaseback agreement with British Land of a portion of its property portfolio. 
 
The deal covers nine properties used as network sites in the UK. Cable & 
Wireless will receive [pounds sterling]88m. 
 
Lease payments for the first five years will be [pounds sterling]4.54m per year and subject to 
five yearly reviews thereafter. These amounts were not included in Cable & 
Wireless' cash guidance of November 8 2006. 
 
Jim Marsh, CEO of Cable & Wireless UK, said: "Our number one priority is to 
deliver excellent service to our top end customers. We're transforming our 
business to do just that - and as part of that transformation,...

            
        
    
    	    
                
                
	

		

					 
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