Batelco Group (Ticker: BATELCO), on Monday announced that it agreed with Cable & Wireless Communications Plc (CWC) to unwind the previous transfer of a 25% shareholding in Compagnie Monegasque de Communication SAM (CMC) from CWC to Batelco.
“CWC has re-paid to Batelco the $100 million paid by Batelco to CWC upon completion of the Islands disposal and Batelco has re-transferred to CWC the 25% shareholding in CMC. All option arrangements between CWC and Batelco in relation to CMC have terminated,” Batelco in a statement said.