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CWC exits South Pacific by selling Soltel stake
Wed, 15th Oct 2014 15:03
Central America-focused telecoms group Cable & Wireless Communications (CWC) is to offload its near-33% stake in Solomon Telekom (Soltel) for $16.5m.The company said that it has agreed to divest the 32.577% interest in Soltel to the Solomon Islands National Provident Fund Board.Soltel provides mobile, fixed-voice and broadband services in the Solomon Islands, but the stake sale marks CWC's exit from the South Pacific region.The firm had previously sold interests in Vanuatu and Fiji.The stock was broadly unchanged after the announcement, up just 0.05% at 44.17p by 15:13.
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