Telecoms group Cable & Wireless Communications (CWC) has sold its 32.6% interest in Solomon Telekom (Soltel) to the Solomon Islands National Provident Fund Board for US$16.5m.
The divestment of the Solomon Islands incumbent marks the cableco’s exit…
Telecoms group Cable & Wireless Communications (CWC) has sold its 32.6% interest in Solomon Telekom (Soltel) to the Solomon Islands National Provident Fund Board for US$16.5m.
The divestment of the Solomon Islands incumbent marks the cableco’s exit from the South Pacific region.
In March 2012, the company sold its 49% interest in Fiji’s Fintel to ATH for US$10.6m, having disposed of its 50% interest in Telecom Vanuatu to Mauritius Telecom in 2011.
Earlier this year, CWC sold its 55% stake in Monaco Telecom to Iliad’s owner Xavier Niel for US$445m. At the time, the London-headquartered telco said the disposal was a further step in the company’s strategy to focus on the Caribbean and Latin America region.
In August, CWC’s Panama unit acquired local IT and telecoms services provider Grupo Sonitel for US$36m, with an additional consideration of up to US$5m.
