C&W split in two to make it more attractive to buyers

Fri, 03 Feb 2006

Cable & Wireless Chief Executive Francesco Caio has restructured himself out of a job by splitting the company in two. The split is thought to signify a 'for sale' sign over the company, as the ailing business will now be more attractive to buyers. C&W has admitted it will miss the City's profit forecasts for next year by a wide margin because of continued tough competition in the UK. C&W's UK and International units will have their own bosses.