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C&W LEADS VENTURE TO ACQUIRE LICENSE

LONDON-Cable & Wireless plc and Hongkong Telecom formed a joint venture company with The Keppel Group and Singapore Press Holdings. The company was formed to bid on a fixed wire telecommunications license in Singapore.

The same consortium last month launched M1, Singapore’s second cellular network, which has gained more than 40,000 customers, the company said.

“We are keenly interested in the fixed wire opportunity in Singapore, as it would enable us to dig our roots deeper in a market where we have quickly become established through M1,” said Richard Brown, chief executive officer of Cable & Wireless. “The combination of Cable & Wireless’ worldwide expertise, Hongkong Telecom’s regional experience and the local market knowledge of Keppel and SPH makes us a powerful contender.”

The Keppel Group’s core businesses include ship repair and ship building, property, banking and financial services, offshore and specialized ship building, shipping and logistics, telecommunications and engineering.

Singapore Press Holdings is one of the region’s largest publishers with 10 newspapers in four languages.

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