C&W looking to exit US market

4 Sep 2003

UK operator Cable & Wireless (C&W) yesterday revealed that it is looking into the possible sale of its loss-making US division, despite investor concerns that the closure of the unit would have a negative impact on the company’s GBP1.6 billion cash pile. The US division made a loss of GBP211 million in the year to the end of March, on sales of GBP512 million.

United Kingdom