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Industry: Email Alert RSS FeedTelecom Italia Caribbean alliance with C&W.
Screen Digest, April, 1998
Cable & Wireless is selling a 20 per cent stake in its West Indian operations and its 20 per cent holding in French mobile telephony operator Bouygues Telecom to Telecom Italia in a deal that will net C&W around L1,200m ($2,000m), of which L456m is attributed to the Bouygues disposal. Describing move as a 'pragmatic association ...
not a merger', C&W (UK; 44/17 1/242-4433; www.cwcom.com) claims new partnership will be second largest international carrier in the world, handling 17,000m call minutes a year. Telecom Italia will integrate its 29 per cent stake in Cuban telco Etecsa into C&W's West Indies division; it becomes a stronger competitor for Spain's Telefnica (see also Spanish telco to float international business in this section) and will seek synergies...
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