Focus on C&W WW heats up

first_imgMonday 6 September 2010 8:22 pm Share whatsapp Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof CABLE & Wireless Worldwide (C&WW) yesterday surged ahead on the London Stock Exchange, buoyed by talk of a potential takeover bid in the offing from Eastern rival Singapore Telecom.Shares in the telecoms group, demerged earlier this year from the consumer-focused arm Cable & Wireless Communications, bounced to as high as 78p in early trading, easily their highest point since a profit warning in July.The stock’s buoyancy came after reports suggested that Singapore Telecom has appointed investment bankers in Asia and Europe to investigate a possible bid for the company. C&WW has also recently been subject to speculation over another possible bid from US telecoms giant AT&T.However, C&WW pared gains on the stock market later yesterday, as analysts remained largely sceptical over the strategic sense of a bid from Singapore Telecom, particularly as the group has limited UK operations.“We see limited scaleability of the business if Singapore Telecom does acquire C&W, with the majority of its revenues linked to UK-based operations,” said Citigroup’s Arthur Pineda.Last year, about a quarter of C&WW’s £2.27bn in revenue came from its operations in India, the Middle East, Africa and South East Asia. In July, C&WW investors were rocked by a first quarter update from the group, which admitted that the withdrawal of large quantities of money from UK public sector budgets in the wake of the new government’s emergency Budget would hit trading in the current year. The stock later eased closing down 0.2 per cent at 73.6p. Focus on C&W WW heats up center_img whatsapp KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Show Comments ▼ Tags: NULLlast_img

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