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Technology / AI and automation

C&W FINDS DANISH BUYER FOR TWO ‘NONE-CORE’ BUSINESSES

No doubt not wishing to be deflected from the fight for domination in an increasingly tough telecommunications market, Cable & Wireless Plc has sold off two of its ‘non-core’ businesses to GN Comtext, part of Denmark’s GN Nordic Group. The two are Cable & Wireless Bimcom Ltd, the company’s maritime messaging business based in the UK and Greece, and its enhanced fax businesses in Switzerland and Italy. The company said in the light of the recent establishment of its UK-based cable television and telephony joint venture Cable & Wireless Communications (CI No 3,127) and its decision to pull out of its alliance with Veba AG of Germany (CI No 3,096), it no longer sees these businesses as supporting its interests and aspirations in the European markets. Financial terms of the deal were not disclosed, but the businesses had a combined annual revenue of around 13m pounds, with 58 employees.

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CBR Staff Writer

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