CWC sells Seychelles? Not to Batelco it doesn’t

3 Dec 2013

Bahraini telecoms group Batelco and UK-based Cable & Wireless Communications (CWC) have announced that their previously agreed deal to sell Cable & Wireless Seychelles to Batelco has failed to receive necessary local approvals by an extended deadline, for reasons unpublished, and therefore the sale appears to have been abandoned. Batelco’s group chairman Shaikh Hamad bin Abdulla Al Khalifa confirmed in a statement that required approvals had not been provided by the Government of Seychelles to proceed with the acquisition, adding: ‘We will continue to focus on developing our current businesses including the companies acquired in April 2013 [under Batelco’s agreement to purchase the rest of CWC’s ‘Islands’ telecoms portfolio]. We are already seeing positive results and look forward to promising results in the future.’

CWC issued a brief statement saying: ‘CWC has been notified that all necessary approvals for the sale of its business in the Seychelles to Batelco Group have not been granted. Accordingly, that disposal did not complete by the long-stop date agreed with Batelco [2 December 2013] and CWC will be considering its options for the Seychelles business.’