By Lilly Vitorovich and Tim Falconer
LONDON – Cable Wireless Communications PLC Monday struck a deal to sell the majority of its Monaco Islands businesses to Bahrain Telecommunications Co., or Batelco, worth around $1.03 billion as part of the U.K.-based telecom operator’s plans to focus on its Pan-America operations.
CWC has agreed to sell its operations in the Maldives, Channel Islands and Isle of Man, the Seychelles, South Atlantic and the Indian Ocean atoll of Diego Garcia – as well as a 25% stake in Compagnie Monegasque de Communication SAM, which holds CWC’s 55% interest in Monaco Telecom, for $680 million.