Cable & Wireless Plc announced late Tuesday that it has withdrawn from the consortium with Deutsche Bundespost Telekom-Ameritech Corp bidding for a 30% stake in Hungarian Telecommunications Co – Matav – reportedly because it was unhappy at having only 25% of the consortium and because the final price would clearly be more than it wanted to pay; the Stet International SpA-Bell Atlantic Corp team is said to have bid up to $900m for the 30% stake; Cable & Wireless also said that if the consortium’s bid were successful, it would expect to work with it on a commercial basis, providing management and other services for the development of Matav’s international telephone service.
