International operator group Cable & Wireless Communications (CWC) has announced it will divest its 55 per cent stake in Monaco’s sole mobile operator for €321.79m to a private investment firm controlled by the founder and majority shareholder of France’s newest mobile operator Free Mobile, Xavier Niel.
Cable & Wireless Communications’ Monaco business, Monaco Telecom, is to sell cloud services to smaller non-competing fixed and mobile operators across Europe. The services will be powered by a hosted offering from telecoms applications developer Movius Interactive.
Monaco Telecom, the local operator of the French principality, has launched a pilot project to roll out LTE-based 4G services.
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