Oct 28, 2004 : Cable & Wireless Sells Japan Unit

📅 October 28, 2004 - Cable & Wireless PLC (cw.com), a British provider of voice, data and Internet services, announced on Tuesday that it is selling its Japanese business to Tokyo-based broadband services provider Softbank Corp. for 12.3 billion yen ($115 million US). The deal also includes additional debts of 1.9 billion yen ($18 million US).

Cable & Wireless chief executive Francesco Caio says the sale will allow the company to focus on stronger markets. Cable & Wireless' main operations are in the United Kingdom, continental Europe, Asia, the Caribbean, Panama and the Middle East.
Softbank says the Cable & Wireless facilities will become a subsidiary of Softbank to strengthen its international telecommunications operations as a broadband company. The company has become more aggressive in recent years, in an effort to challenge Nippon Telegraph and Telephone Corp., a former government monopoly.
Softbank announced in May it was acquiring Japan's third largest telecom, Japan Telecom Co. to expand its corporate customer base and optical fiber network.

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