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CWC Panama slips on talk of government pull-out

Wednesday, March 21, 2012

Cable & Wireless Communications (CWC) has slipped back on talk the Panamanian government may be considering part of its stake in the company's operations in the country.

The government owns 49 percent of CWC Panama, and local reports suggests it may dispose of around 5 percent, which would be worth around $70 million.

The funds would be used to finance infrastructure projects in the country, including improvements to drinking water systems.

Source: The Guardian