Feeds

Cable and Wireless borrows big to finance split

Bye then

Security for virtualized datacentres

Cable and Wireless has today settled on the details of its long-planned split, which has been delayed by the recession.

The demerger, establishing CWI and Worldwide as separate firms, is now due to be completed by the end of March.

To ensure both new firms have enough cash to meet their debts and operate, Cable and Wireless plans a large bond issue and new loans.

It's planned the bond sale will raise £200m. A further £300m for the confusingly-named UK arm Worldwide, and $500m for the overseas arm CWI, will come from banks.

Cable and Wireless' famously-generously-remunerated top brass will remain in charge. Worldwide will be run by Jim Marsh, with John Pluthero as chairman. CWI will be run by Tony Rice with Richard Lapthorne as chairman.

The demerger follows deep cuts and job losses at Cable and Wireless which have helped the domestic and international businesses achieve profitability.

Shareholders will meet in February to approve the plan. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
'Serious flaws in the Vertigan report' says broadband boffin
Report 'fails reality test' , is 'simply wrong' and offers ''convenient' justification for FTTN says Rod Tucker
This flashlight app requires: Your contacts list, identity, access to your camera...
Who us, dodgy? Vast majority of mobile apps fail privacy test
Apple Watch will CONQUER smartwatch world – analysts
After Applelocalypse, other wristputers will get stuck in
Shades of Mannesmann: Vodafone should buy T-Mobile US
Biting the bullet would let Blighty-based biz flip the bird at AT&T
Drag queens: Oh, don't be so bitchy, Facebook! Let us use our stage names
Handbags at dawn over free content ad network's ID policy
Blockbuster book lays out the first 20 years of the Smartphone Wars
Symbian's David Wood bares all. Not for the faint hearted
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.