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August 16, 1988

CABLE & WIRELESS PAYS UKP1.6m FOR A 20% STAKE IN VALUE-ADDED EXPORT NETWORK

By CBR Staff Writer

Cable & Wireless Plc has made its first move into UK value-added network and database services by putting UKP1.6m for a 20% stake in Export Network, the business formed last October to enable exporters and importers to get on-line to each other and to the opportunities in the market – and the latest state of play in countries to which they are thinking of exporting. British & Commonwealth originally put up UKP500,000 for a 40% stake in the business (CI No 782), and that has appreciated handsomely with the Cable & Wireless investment, which reduces B&C’s stake to 20%. Others involved in the venture are Citibank, the British Overseas Trade Board and Thomas Cook. The Cable & Wireless contribution will be to extend the system beyond the UK and bring international traders onto the network.

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