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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

 

ABC Group sells U.S. subsidiary to Chinese holding company

2014-04-23 19:31:00| Canadian Plastics Headlines

Toronto-based global automotive parts maker ABC Group Inc. has sold its ABC Group Fuel Systems Inc. subsidiary to Chinas state-owned firm Rongshi International Holding Company Ltd.

Tags: group company chinese holding

 
 

Magnum Hunter Sells Canadian Holdings

2014-04-23 19:02:00| OGI

The company also appears on track to sell its Appalachian Basin assets within the next month, an analyst said.

Tags: canadian hunter holdings sells

 

Toyota Sells 2.58 Million Vehicles, Outselling GM

2014-04-23 07:51:52| Automakers - Topix.net

Toyota kept its position at the top in global vehicle sales for the first quarter of this year, outpacing rivals General Motors and Volkswagen.

Tags: million vehicles toyota sells

 

FedEx CEO Frederick W. Smith Sells 236,900 Shares

2014-04-23 05:02:27| Air Courier - Topix.net

FedEx CEO Frederick W. Smith sold 236,900 shares of FedEx stock on the open market in a transaction dated Monday, April 21st.

Tags: smith shares ceo sells

 

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