Britain's C and W to take over Japan's IDC

Stephen Pettit, director of Britain's Cable and Wireless PLC (C and W), on June 16 announces the successful closure of its takeover bid for International Digital Communications Inc. (IDC) of Japan. At a press conference in a Tokyo hotel, he said agreements with IDC shareholders gave C and W a 97.69% stake in the Japanese international telecom carrier.

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ILEA000001615

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1999/6/16 00:00:00

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Kyodo / Kyodo News Images

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1221 × 1480 pixel

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Britain's C and W to take over Japan's IDC

Stephen Pettit, director of Britain's Cable and Wireless PLC (C and W), on June 16 announces the successful closure of its takeover bid for International Digital Communications Inc. (IDC) of Japan. At a press conference in a Tokyo hotel, he said agreements with IDC shareholders gave C and W a 97.69% stake in the Japanese international telecom carrier.

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Junichiro Miyazu, president of Nippon Telegraph and Telephone Corp. (NTT), speaks at a news conference at the NTT head office in Tokyo on June 16. He explained the circumstances that had led NTT to give up its takeover bid for International Digital Communications Inc. (IDC). Britain's Cable and Wireless PLC (C and W) earlier announced that its agreements with IDC shareholders gave it a 97.69% stake in the Japanese international telecom carrier.