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CWC subsidiary to divest Algerian satellite business

Monday 14 October 2013 | 12:41 CET | News
Cable & Wireless Communications (CWC) subsidiary Monaco Telecom has agreed to sell its Algerian satellite communication business Divona to Smart Link Com of Algeria, for a total consideration of USD 1.4 million on a cash- and debt-free basis. Proceeds from the sale will be used for general working capital purposes. The transaction will not have a material impact on CWC. The transaction is subject to customary regulatory approvals by the relevant authorities in Algeria.

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Categories: Broadcast & Satellite
Companies: Cable & Wireless
Countries: Algeria
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