BCE raises over $2.3-bilion from Cable & Wireless sale

Article Abstract:

BCE Inc., the telecommunications giant based in Montreal, Quebec, earned over C$2.3 billion from the sale of its 14.25% interest in Cable & Wireless Communications PLC, the UK's second-largest telecommunications firm. BCE profited handsomely from its investment in C&W which BCE estimated at C$1 billion on its 1997 balance sheet. The company intends to use the proceeds for expansion projects, including the construction of a C$1 billion Anik F satellite by Telesat Canada and the acquisition of a 56% stake in CGI Group Inc., a computer systems manager based in Montreal.

Comment:

BCE Inc. sells its 14.25% stake in this co for over C$2.3 bil

Asset sales & divestitures, Communications, Broadcasting and Telecommunications, BCE Inc., Cable & Wireless Communications PLC, Article

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Telesystem orders unit to plan on cuts

Article Abstract:

Telesystem International Wireless Inc. has ordered its main operation, Dolphin Telecom PLC, to create a contingency plan to cut capital spending in the second half of 2001. The plan will probably involve the operation's focusing on its UK unit, scale back building its French unit, and delay planned launches in Belgium and Germany.

Canada, Europe, Strategy & planning, Financial management, Planning, Dolphin Telecom PLC

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Telesystem, partner score British wireless license

Article Abstract:

TIW UMTS UK Ltd., which is a joint venture between Montreal, Que.-based Telesystem International Wireless Inc. and Hong Kong-based Hutchison Whampoa Ltd., has won a third-generation wireless telephone license for the United Kingdom. TIW UMTS UK bid $10.2 billion for the new license.

Diversified Companies, Strategic alliances, Hutchison Whampoa Ltd., Licensing agreements, TIW UMTS UK Ltd.

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