Falklands : CABLE & WIRELESS IN TALKS WITH BATELCO GROUP OVER MONACO AND ISLANDS’ BUSINESS
Submitted by Falkland Islands News Network (Juanita Brock) 23.09.2012 (Article Archived on 07.10.2012)
Recent press speculation lead to Cable & Wireless Communications Plc ("CWC") confirming that it has received an approach from Batelco Group regarding a possible transaction involving its Monaco & Islands business unit. Cable & Wireless report that as yet, there can be no certainty that the discussions will lead to a transaction.
CABLE & WIRELESS IN TALKS WITH BATELCO GROUP OVER MONACO AND ISLANDS’ BUSINESS
By J. Brock (FINN)
Recent press speculation lead to Cable & Wireless Communications Plc ("CWC") confirming that it has received an approach from Batelco Group regarding a possible transaction involving its Monaco & Islands business unit. Cable & Wireless report that as yet, there can be no certainty that the discussions will lead to a transaction.
Cable & Wireless and Bahrain have done business previously in that Bahrain's first telecommunications link to the rest of the world dates back to 1864, when the island was connected to the Indo-European undersea telegraphic cable. This remained the only telecom medium until 1931 when Cable & Wireless' predecessors started to operate radio links that provided telegram and telephony services.
During the 1930's the Electricity Department operated the country's first telephone exchange with 15 staff members, two motor cars and 39 lines in operation. The first telegraphic office opened in 1947, closely followed by the installation of Bahrain's first automatic telephone exchange in 1949. The company was known at that time as the Imperial and International Communications Company, later to be incorporated in the Wireless Telegraph Company in early 1949.
Cable & Wireless Communications is a global full-service communications business that operates leading communications businesses through four regional units - the Caribbean, Panama, Macau and Monaco & Islands. Our services include mobile, broadband and domestic and international fixed line services in most of our markets as well as pay TV, data centre and hosting, carrier and managed service /social telecom (telecom enabled public services) solutions. Our operations are focused on providing our customers - consumers, businesses, governments - with world-class service. Serving the communities where we operate is at the heart of our approach, and we are committed to behaving in an ethical and socially responsible manner
A further announcement will be made, if appropriate, in due course.
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