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Cable & Wireless, - Company Business and Marketing - Brief Article

CommunicationsWeek International, June 4, 2001

* Cable & Wireless, which has a 52.5% stake in Optus, Australia's second-largest carrier, has recommended that shareholders accept a bid by Singapore Telecommunications Ltd. (SingTel) to buy Optus in a stock-and-cash deal worth 17.2 billion Australian dollars ($8.9 billion). The deal would be Australia's second largest corporate transaction to date.

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SingTel is also in discussions to acquire two Malaysian telecoms operators, Maxis Communications Bhd and Time dotCom Bhd. The company already owns stakes in Advanced Info Service PcL of Thailand, Globe Telecom Inc. in the Philippines, and Bharti Group of India. It is estimated to have cash reserves of $3.54 billion.

COPYRIGHT 2001 EMAP Media Ltd.
COPYRIGHT 2001 Gale Group

 

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