Cable and Wireless PLC of Britain announced Wednesday that it has secured a 97.69 percent stake in International Digital Communications Inc., claiming victory over NTT Corp. for control of the Tokyo-based international telecommunications carrier.
C&W said 134 of IDC's 141 shareholders have agreed to sell their shares. C&W, a founding shareholder, already holds a 17.69 percent stake.
IDC's two other main shareholders — Toyota Motor Corp. and Itochu Corp. — said last week that they would each sell their 17.69 percent stakes to C&W, which will start purchasing the shares next Monday.