C&W to revise bid for Bermuda’s KeyTech

15 Aug 2006

UK-based Cable & Wireless plc (C&W) is expected to table a revised offer for Bermuda’s largest telecoms company, KeyTech, after an earlier offer to buy the company for GBP113 million (USD213.7 million) was rejected last month, the FT writes. The newspaper quotes C&W’s chief executive of international business, Harris Jones, as saying the company is mulling over a series of overseas acquisitions as it looks to convince investors it is on the road to recovery. Mr Jones said he was convinced C&W could increase revenues through a combination of organic growth and acquisitions to stem the recent trend of falling annual sales. He told the FT: ‘We believe there are plenty of opportunities for us to grow inorganically. We intend to be robust in looking at more acquisitions.’