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LONDON-Cable & Wireless plc plans to sell its 22.3-percent stake in OCCEL, which provides wireless services in the western region of Colombia, to a subsidiary of Bell Canada International Inc. for $98 million in cash.
“This disposal is in line with our strategy of focus on businesses where we have significant management influence and which offer a realistic opportunity to dig deeper in the market,” said Stephen Pettit, director of global businesses for Cable & Wireless.
Cable & Wireless was part of the consortium that formed OCCEL in 1994.
