5th Nov 2009 07:00
5 November 2009
Cable and Wireless plc announces intention to demerge
Cable and Wireless plc ("Cable & Wireless") today announces its intention to separate into its two businesses, Worldwide and CWI. This separation is expected to be effected by a demerger of Worldwide.
Richard Lapthorne, Chairman of Cable & Wireless, commented: "As a result of the emerging signs of more settled conditions in financial markets, we are now moving forward to list the two businesses as independent, publicly-quoted companies. The Board believes that a demerger is the right structure to drive further growth and value for shareholders by enabling both businesses to pursue their strategies independently, and it is keen to push ahead as quickly as possible. We are making good progress and will provide further details before the end of the month."
Cable & Wireless intends to publish further information before the end of November 2009 which will include indicative timing.
About Cable & Wireless
Cable and Wireless plc is one of the world's leading international communications companies. It operates through two standalone business units - Worldwide and CWI.
The Worldwide business specialises in offering high quality communications services such as IP, data, voice and hosting to large enterprise, reseller and carrier customers. It operates globally, with core markets in UK, Asia and EMEA, and provides connectivity in 153 countries.
CWI is an owner and operator of market-leading regional telecoms businesses. Headquartered in London, it operates through four regional business units - the Caribbean, Panama, Macau and Monaco & Islands. It is a full-service telecommunications provider offering mobile, broadband, domestic and international fixed line services, as well as enterprise and managed service telecom solutions.
Contacts
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GROUP |
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Clare Waters |
Group Director of External Affairs |
+44 (0)20 7315 4088 |
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Ashley Rayfield |
Director, Investor Relations |
+44 (0)20 7315 4460 |
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Mat Sheppard |
Manager, Investor Relations |
+44 (0)20 7315 6225 |
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Lachlan Johnston |
Director of Public Relations |
+44 (0)7800 021 405 |
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FINSBURY |
Rollo Head |
+44 (0)20 7251 3801 |
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