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Cable & Wireless sells Monaco Telecom stake to Xavier Niel

Cable & Wireless Communications has sold its stake in Monaco Telecom to French entrepreneur Xavier Niel, chief executive and founder of low-cost telecoms provider Iliad, for 322 million euros ($445 million). Niel is buying Compagnie Monegasque de Communication, a holding company that owns a 55 percent stake in Monaco Telecom, the incumbent operator in the principality and also the owner of a 36 …