C&W on track to split company into two

By The Newsroom
Published 2nd Feb 2010, 20:04 BST
Updated 2nd Feb 2010, 20:06 BST
CABLE & Wireless yesterday said the creation of separate companies for its blue-chip and regional telecoms operations was on track and would be completed by the end of March.

The firm is to inject 30 million into the pension scheme – which is being split between the two businesses – and said trading was in line with guidance.

Chairman Sir Richard Lapthorne said: "Today's announcement sets out the final steps for the separation of our two businesses and the creation of two strong, well-financed companies with great opportunities ahead of them."