r
r
r
r
r
r
r
r
April 1, 2003 — (WEB HOST INDUSTRY REVIEW) — Cable & Wireless (cw.com), the global telecommunications group, today announced it has entered into conditional agreements to sell all of its
r
businesses that relate to customers requiring domestic-only services in the
r
Belgium, Netherlands, Sweden and Russia in Northern Europe and Switzerland.
r
r
The disposals are part of Cable & Wireless’ strategy announced in November
r
to focus on serving multinational enterprises and service providers in
r
continental Europe and to withdraw from domestic-only services.
r
r
IP-eYe, backed by senior managers currently within Cable & Wireless’
r
Northern European business, is buying the domestic businesses in the
r
Netherlands, Belgium, Sweden and Russia. IP-eYe’s focus is on national and
r
multinational businesses in Europe, offering web solutions, hosting, network
r
integration and data services. Following completion, customers taking Cable
r
& Wireless’ domestic services will be served by IP-eYe while those using
r
Cable & Wireless’ multi-regional services will continue to be served by
r
Cable & Wireless. Additionally, Ip-eYe will distribute Cable & Wireless
r
products in its own markets.
r
r
Smart Telecom (smart-telecom.ch), a well-established Swiss
r
telecommunications company providing voice and data services to Swiss-based
r
customers through a number of locally situated subsidiaries, most notably
r
VTX, is to buy Cable & Wireless’ Swiss domestic business.
r
r
After the disposals, Cable & Wireless will retain network and business
r
operations in Brussels, Amsterdam, Copenhagen, Stockholm, Moscow and
r
Switzerland, enabling the company to concentrate resources on providing
r
business-critical information and communications services to European and
r
multinational enterprises and service providers. Capabilities will also be
r
retained in Rotterdam and Luxembourg to service Cable & Wireless target
r
customers.
r
r
“The sale of these businesses is expected to mark the first in a series of
r
transactions across Europe that will allow us to provide an even higher
r
level of service to our target customers,” said Robert Drolet, CEO
r
continental Europe, Cable & Wireless. “We look forward to a close working
r
relationship with IP-eYe and Smart Telecom and ensuring a smooth transition
r
for customers and employees.”
r
r
The aggregate net assets of the businesses being sold to IP-eYe are
r
approximately Euro 2 million. The value of the net assets of the business
r
being sold to Smart Telecom is approximately Euro 300,000.
