Cable & Wireless confirms demerger.
Investors Chronicle - magazine and web content, November, 2009
Byline: Malar Velaigam
RESULT: C&W is pushing ahead with plans to demerge its two business units, but downgrades earnings after weak trading in the Caribbean
Cable & Wirelesswas always a rather odd corporate creature, so news that it will press ahead with a demerger of its two businesses, along with tentative signs of a recovery in trading, was welcome. But the group has cut full-year earnings guidance for its mobile telecoms business, CWI, after poor trading in the Caribbean.
The impact of the downturn on tourism meant saw both revenues and profits slump in the Caribbean, more than offsetting improved performance in Panama, Macau and Monaco and Islands. And with the region still showing no signs of improvement, C&W has slashed cash profit...
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