Bahraini Telecom Puts Up $1B For CWC Monaco, Islands Biz

Law360, New York (December 4, 2012, 7:56 PM EST) -- British telecom outfit Cable & Wireless Communications PLC has worked out a contingency-laden deal worth more than $1 billion to transfer its Monaco and various island operations to state-run Bahrain Telecommunications Co., the parties announced Monday.

At the heart of the arrangement is a $680 million purchase agreement that gives the Bahraini company — better known as Batelco — all of CWC's phone, Internet and television services in the Mediterranean principality of Monaco and five islands or archipelagos spread throughout the Indian Ocean and British waters,...
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