Cable and Wireless buys Energis in consolidating British telecoms market
An AFP newswire article, via Yahoo! News, reports that:
British telecommunications group Cable and Wireless said it would acquire its smaller rival Energis, a takeover enabling it to better challenge the dominance of market leader British Telecom.
Cable and Wireless said on Tuesday it would pay an initial 594 million pounds (870 million euros, 1.077 billion dollars) in cash, and then inject an additional 35 million once the deal has been finalised.
A third payment of up to 80 million pounds is to be made in cash or shares three years later depending on the price of C and W shares at that point.
posted by Fergie @ 8/16/2005 07:52:00 AM
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