CWC sells its stake in Divona to SLC

15 Oct 2013

UK-based telecoms company Cable & Wireless Communications (CWC) has announced that its subsidiary Monaco Telecom has agreed to sell its Algerian satellite communication unit Divona to Algerian broadband and WiMAX operator Smart Link Communication (SLC), for a total price of USD1.4 million on a cash free and debt free basis. According to a company press release, the proceeds from the sale will be used for general working capital purposes; the consideration will be satisfied in cash and assumed debt and is subject to certain adjustments for working capital and transition costs. The transaction is also subject to regulatory approvals by the relevant authorities in Algeria.

According to TeleGeography’s GlobalComms Database, SLC offers Wi-Fi, WiMAX, voice-over-internet protocol (VoIP) and VPN services to its subscribers. It also utilises VSAT links in partnership with LCDC Telecoms of France and Algerie Telecom Satellite. Its fixed-wireless network has a presence in Algiers, Blida, Bejaia, Constantine, Hassi Messaoud and Oran.