Home C&W sells Monaco Telecom for EUR 322 million
 

Keywords :   


C&W sells Monaco Telecom for EUR 322 million

2014-04-25 11:56:00| Telecompaper Headlines

(Telecompaper) Cable & Wireless Communications has agreed the sale of Compagnie Monégasque de Communication, the holding company for its 55 percent stake in Monaco Telecom, to a private investment vehicle controlled by Xavier Niel, the French entrepreneur controlling Iliad, for EUR 321.79 million. Monaco Telecom is the incumbent operator in Monaco where it is the market leader and only full service telecommunications provider. It also owns 36.75 percent of Afghan mobile operator Roshan, supplies international carrier and country code services to Kosovo, and works with OnAir for onboard telephony. CMC had USD 74 million of EBITDA on a USD 218 million revenue in the year to March 2013, when it had USD 537 million of gross assets and some 35,000 mobile customers, 34,000 fixed line and 17,000 broadband users. The parties have regulatory approval and only await a C&W shareholder vote to complete the deal. The disposal puts C&W in a strong position to pursue growth opportunities, both organic and inorganic, in the targeted Caribbean and Latin America region, the operator said.

Tags: eur million telecom monaco

Category:Telecommunications

Latest from this category

All news

»
07.11Amino updates Android STB portfolio with Amigo 7Y launch
07.11Sainsbury's and M&S warn Budget may push up prices
07.11VIZIO reports Q3 2024 financial results
07.11Farm Progress America, Nov. 7, 2024
07.11NanoTech Materials Named to TIMEs List of the Best Inventions of 2024
07.11Farm Progress America, Nov. 7, 2024
07.11ORF and ORS extend contract with SES at 19.2° East
07.11Victory+ to monetize over 60 new FAST channels with Amagi
More »