The planned demerger of Cable & Wireless, due to take place in March next year, could lead to a sale of one or both of the units, according to reports.
The UK business Worldwide offers communications services including IP, data, voice and hosting to resellers, large enterprises and carrier customers based in the UK, Asia and the Middle East. It has 6,642 employees and will be given £500m of new funding as a result of the demerger.
Worldwide is headquartered in London, and its rivals include France Telecom, BT and American group AT&T.
The international operation CWI provides broadband, fixed line, mobile and entertainment services across 38 countries, and via four regional bases. Its locations include the Caribbean, Monaco, Panama and Macau. It is also headquartered in London.
CWI has 6,659 staff and will have $1bn of new funding after the reorganisation.
It is expected that C&W's assets and liabilities will be divided equally between the two businesses.
Richard Lapthorne, chairman of C&W, said of the demerger: it is a "momentous moment in our recent history...Both businesses will flourish and focus better under separate ownership." He also said that the two separate businesses would prove more attractive to potential buyers than as one corporate entity.
