Cable & Wireless makes an offer to rival Thus
29/05/2008
Cable & Wireless (C&W) has recently made a bid approach for rival Thus. C&W, the international telecoms carrier, plans to address the problem of competition in the UK. The business been struggling to make a profit, and recently revealed their UK full year profit of £45 million on turnover of £1.9 billion.Thus has also experienced rivals undercutting prices in the UK market, according to Bill Allen, chief executive. Thus has not yet made a profit although full-year figures published this month revealed that losses were reducing.
