[trading markets] Cable & Wireless Communications plc (Cable & Wireless Plc), a UK-based telecommunications company, has entered into non-binding memorandum of understanding to acquire a 51% stake in Bahamas Telecommunications Company Limited, from The Government of the Bahamas for $210 million.
The Government of the Bahamas will also receive any excess net cash in Bahamas over and above $15 million (calculated at completion), subject to a normal level of working capital being maintained in the company.
Bahamas is a provider of fixed-line telecoms, Internet, data and hosting services. The transaction is expected to complete in the first quarter of 2011.
Cable & Wireless Communications to acquire 51% stake in Bahamas Telecommunications
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