June 25, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Cable & Wireless (cw.com) announced yesterday the sale of its domestic Internet access and business services in France to the French subsidiary of Tiscali SpA (tiscali.com).
According to Cable & Wireless, the sale is part of the company?s strategy to withdraw from providing domestic only services and focusing on multinational enterprises and service providers in continental Europe.
Cable & Wireless is selling its French activities related to hosting, Internet access and network services provided to small and medium companies, as well as its VISP (Virtual Internet Service Provider) services.
"We are pleased that the transaction allows Cable & Wireless to refocus its operations in France and we shall work with Tiscali to ensure a smooth transition both for our customers and for our employees," said Robert Drolet, CEO continental Europe, Cable & Wireless.
The transaction follows sales of Cable & Wireless' domestic businesses in Belgium, Sweden, the Netherlands, Switzerland, Italy and Germany.
The transaction is valued at 5.6 million Euro and involves the transfer of approximately 120 employees.
Cable & Wireless is a global telecommunications company with customers in 80 countries. Earlier this month, the company announced plans to exit the US Web hosting market.
