C&W wins telecoms bid battle in Japan 2 Edition

Cable & Wireless's takeover of Japanese carrier IDC represents a small financial step for the UK telecommunications company but a giant leap in terms of strategy, sector analysts said yesterday. C&W, the UK's second-largest telecoms company, saw off competition from Japanese teleco...

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Bibliographic Details
Published inHerald (Glasgow, Scotland)
Main Author Jeff Daeschner and Keith Weir
Format Newspaper Article
LanguageEnglish
Published Glasgow (UK) Gannett Media Corp 10.06.1999
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Summary:Cable & Wireless's takeover of Japanese carrier IDC represents a small financial step for the UK telecommunications company but a giant leap in terms of strategy, sector analysts said yesterday. C&W, the UK's second-largest telecoms company, saw off competition from Japanese telecoms giant NTT to become the first foreign group to win a contested takeover in Japan, after a two-month fight. The UK company has secured a 53% stake in international carrier IDC, after offering 110,577 a share, valuing IDC at 69bn (#356m).