C&W Unloads U.S. Units - Multichannel

C&W Unloads U.S. Units

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Cable and Wireless plc announced Monday that it has sold its U.S. hosting and Internet-protocol-solutions businesses.

An affiliate of Gores Technology Group LLC will acquire substantially all of the assets of Cable & Wireless USA Inc. and Cable & Wireless Internet Services Inc. for $125 million.

In order to facilitate the sale, CWA Monday filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code.

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