CWC sells Algerian satellite unit
14 October 2013 |
Cable&Wireless Communications (CWC) has sold its Algerian satellite business, Divona, to Smart Link Com for $1.4 million.
The sale to Alergian communications company Smart Link Com is not expected to have a material impact on CWC and all proceeds will be used for general working capital purposes.
CWC sold its controlling stake in Macau’s largest telecoms company CTM in January this year, and the sale of Divona forms part of CWC’s strategy to slim down its business.
The deal with Smart Link Com was satisfied in cash and assumed debt and is still subject to a number of agreements.
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