Cable and Wireless PLC announces exit route from US businesses; Agreement signed by Cable & Wireless America with Gores Technology Group, LLC to purchase substantially all of the assets of the US businesses; Chapter 11 Section 363 process for the US businesses to facilitate sale through restructuring; Remaining cash cost of exit to Cable and Wireless plc (from 1 October 2003) expected not to exceed GBP300m.

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M2 PRESSWIRE-8 December 2003-CABLE & WIRELESS: Cable and Wireless PLC announces exit route from US businesses; Agreement signed by Cable & Wireless America with Gores Technology Group, LLC to purchase substantially all of the assets of the US businesses; Chapter 11 Section 363 process for the US businesses to facilitate sale through restructuring; Remaining cash cost of exit to Cable and Wireless plc (from 1 October 2003) expected not to exceed GBP300m(C)1994-2003 M2 COMMUNICATIONS LTD RDATE:12082003 Cable and Wireless plc announced on 4 June 2003 its intention to exit its US businesses for the least cost, compatible with taking into account customers` interests.

In November 2003 it highlighted that to make the business more commercially viable it had...