C&W emerges as frontrunner for Telecom stake

22 Apr 2004

The UK’s Cable & Wireless (C&W) is reportedly leading the race to acquire a majority stake in Monaco Telecom, according to an article by The Times. The paper claims that C&W has been given a ten-exclusivity period to negotiate an agreement with Monaco Telecom’s majority shareholder Vivendi Universal to purchase its 55% stake in the operator. C&W has a cash pile of GBP1.2 billion (USD2.1 billion) available and would reportedly offer around USD183 million for the holding.