C&W Disposes of Domestic Telecom Services

• By theWHIR.com , April 01, 2003

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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

businesses that relate to customers requiring domestic-only services in the

Belgium, Netherlands, Sweden and Russia in Northern Europe and Switzerland.

The disposals are part of Cable & Wireless' strategy announced in November

to focus on serving multinational enterprises and service providers in

continental Europe and to withdraw from domestic-only services.

IP-eYe, backed by senior managers currently within Cable & Wireless'

Northern European business, is buying the domestic businesses in the

Netherlands, Belgium, Sweden and Russia. IP-eYe's focus is on national and

multinational businesses in Europe, offering web solutions, hosting, network

integration and data services. Following completion, customers taking Cable

& Wireless' domestic services will be served by IP-eYe while those using

Cable & Wireless' multi-regional services will continue to be served by

Cable & Wireless. Additionally, Ip-eYe will distribute Cable & Wireless

products in its own markets.

Smart Telecom (smart-telecom.ch), a well-established Swiss

telecommunications company providing voice and data services to Swiss-based

customers through a number of locally situated subsidiaries, most notably

VTX, is to buy Cable & Wireless' Swiss domestic business.

After the disposals, Cable & Wireless will retain network and business

operations in Brussels, Amsterdam, Copenhagen, Stockholm, Moscow and

Switzerland, enabling the company to concentrate resources on providing

business-critical information and communications services to European and

multinational enterprises and service providers. Capabilities will also be

retained in Rotterdam and Luxembourg to service Cable & Wireless target

customers.

"The sale of these businesses is expected to mark the first in a series of

transactions across Europe that will allow us to provide an even higher

level of service to our target customers," said Robert Drolet, CEO

continental Europe, Cable & Wireless. "We look forward to a close working

relationship with IP-eYe and Smart Telecom and ensuring a smooth transition

for customers and employees."

The aggregate net assets of the businesses being sold to IP-eYe are

approximately Euro 2 million. The value of the net assets of the business

being sold to Smart Telecom is approximately Euro 300,000.

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