Cable & Wireless sells stake in Macau’s CTM

2013-01-26 11:11:42

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Cable & Wireless sells stake in Macau’s CTM
Cable & Wireless Communications Plc (CWC) says it will sell its 51% share of Companhia de Telecomunicações de Macau S.A.R.L. (CTM) to CITIC Telecom International Holdings for $749.7 million. CITIC Telecom, which already holds 20% of CTM, announced it will acquire the 28% of the Macau telecom provider Portugal Telecom owns, giving it 99% control of the company.CWC says this sale is part of its strategy to focus on the Americas region. In addition to this transaction, the company is in the process of divesting its holdings in Monaco, the Channel Islands, the Isle of Man, the Maldives, and the Seychelles Islands.The $749.7 million in cash CWC will receive for its Macau holdings represents an enterprise value of $1.47 billion for CTM and an enterprise value/EBITDA multiple of 8.9X based on results for the 12 months to March 31, 2012. CTM had a net cash balance of $70 million as of the end of 2012. CWC says it will use the money to reduce the company’s net borrowings, thus increasing its strategic and financial flexibility.The deal is subject to regulatory approval and other conditions, including approval from CWC and CITIC Telecom shareholders, and the Governments of Macau and the People’s Republic of China, as well as CITIC Telecom’s deal with Portugal Telecom. This process is expected to take 6-9 months.Commented Tony Rice, chief executive of CWC, “Cable & Wireless was a founding shareholder in CTM in 1981, and it has been one of the outstanding businesses within our group during this time. It has enjoyed strong growth, particularly in mobile and mobile data services, and the valuation we have agreed with CITIC Telecom reflects that. As an existing shareholder, CITIC Telecom knows CTM well and we’re confident it will continue to operate the business successfully. The disposal, when combined with our agreement to sell our Monaco & Islands business, is in line with the strategy we set out at our demerger in 2010. Following completion of these transactions, we will be a focused pan-America regional operator, with a strong balance sheet, and we intend to pursue new growth opportunities, both organic and inorganic, in this region.”
Sumitomo Electric Lightwave takes data centers to 4th Level
Sumitomo Electric Lightwave has unveiled its new 4th Level Data Center Solutions product line. The 4th Level portfolio offers a data centers a means of real-time, flexible, onsite fiber-optic network design, the company asserts.The 4th Level family includes high-speed transmission cables, precision installation equipment, and such tools as fusion splicers and optical fiber cleavers. It builds on Sumitomo Electric Lightwave’s Lynx2 CustomFit Splice-On Connectors (in SC, LC, FC, and ST formats) and the Lynx2-MPO fiber-optic connectors. The new initiative adds plenum and riser rated distribution and interconnect cables, patch panels and cassettes, and options including fiber-optic cable assemblies. The result, according to Sumitomo Electric Lightwave, is the ability for technicians and network designers to create a customized optical fiber infrastructure on-site. This includes the ability to make adjustments easily on-site, use exact-length cable builds, and perform immediate connectivity in a manner that pre-terminated cable and plug-and-play approaches can’t provide.“Our goal is to offer data center managers, design engineers, and installers the freedom and control to customize, rapidly change, repair, and restore the network infrastructure in real-time without the logistic delays and the fixed and  inflexible solutions of the past,” explains Joshua Seawell, Sumitomo Electric Lightwave’s director of its Lightwave Network Products division. “With the launch of the 4th Level product line, Sumitomo Electric Lightwave has achieved this goal, meeting the needs of its customers for new and better technology.”
Iceland’s Farice upgrades submarine and terrestrial networks via Ciena
Farice, which provides fiber-optic network services between Iceland to mainland Europe, is upgrading the DANICE submarine cable system with 40-Gbps coherent optical transport technology from Ciena Corp. (NASDAQ: CIEN). The new capabilities on DANICE, a 2295-km undersea fiber-optic cable system that links Iceland and Denmark, should be operational early this year, the two companies say.The upgrade leverages Ciena’s 6500 Packet-Optical Platform with coherent transmission technology. The platform will not only support 40-Gbps connections early this year, but a planned roll out of 100 Gbps later in the year.Ciena also will deploy its GeoMesh networking approach, which uses optical bypass technology to simplify the end-to-end network design, from the cable landing station in the south of Iceland to Farice’s points of presence (PoP) in downtown Reykjavík and Keflavik Airport. While traditional approaches call for regenerators at the cable landing station -- thus increasing latency, cost, and complexity, Ciena asserts -- the GeoMesh approach uses an all-optical network design to connect the submarine and terrestrial segments into a single seamless link in which high-capacity optical signals are carried as foreign wavelengths over the existing terrestrial backhaul network.As a result of the upgrade, DANICE will be scalable to 8.8-Tbps of capacity per fiber, making the four-fiber network’s total capacity 35.2 Tbps.“Thanks to its well educated workforce and accessibility to affordable and sustainable power, Iceland is truly uniquely positioned to serve Europe’s growing data center market,” says Örn Jónsson, CTO at Farice. “With this opportunity, however, also comes the need of a connectivity solution that will provide unmatched reliability, scalability, and robustness. Ciena’s technology selected for the end-to-end network upgrade offers all these attributes and has been proven in numerous submarine and terrestrial deployments around the world. Together with the original FARICE-1 system connecting Iceland and the Faeroe Islands to Scotland, for years to come the newly upgraded DANICE cable will enable us to better serve the needs of both our data center customers, as well as our traditional telecommunications customers.”
The above information is edited by 10GTEK.
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