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September 23, 1997updated 03 Sep 2016 7:33pm

C&W SELLS REMAINING NETCOM INTEREST

By CBR Staff Writer

Still cleaning up its business interests to concentrate on its core telecommunications business, Cable & Wireless Plc has sold its remaining 3.9% interest in NetCom Systems AB, resulting in a gain on disposal of 33m pounds which will be shown in its half year accounts. The company acquired its interest in NetCom last year in exchange for its 39.9% holding in Swedish telecommunications company Tele2 AB, which became a wholly-owned subsidiary of NetCom (CI No 2,999). Cable & Wireless sold more than half its NetCom holding in February, raising around 46m pounds. The total raised from the two disposals, 84m pounds was 17m pounds more than the 67m pounds estimated value last September (CI No 2,999).

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