C&W files multi-million dollar lawsuit against the Big Blue

8 Aug 2003

London-based corporate services provider Cable & Wireless [London: CW.L] has said it has ended a USD3 billion computer services contract with IBM [NYSE: IBM]. Although the UK telco refused to publicly divulge its reasons for scrapping the deal, which was signed in September 1998 and is IBM’s largest rolling contract outside the US, it did reveal that it has filed a lawsuit against IBM amid claims it was overcharged by USD115 million in the UK and USD22 million in the US. Court proceedings are expected to begin in London next month.

United Kingdom