Cable & Wireless
Categories: Companies traded on the New York Stock Exchange | Companies traded on the London Stock Exchange | Telecommunication companies of the United Kingdom | Telephone companies | Multinational corporations | Telecommunications history
| Image:Cableandwireless logo.gif | |
| Type | Public |
| Founded | circa 1860 |
| Location | Bracknell, Berkshire |
| Key people | CEO: Francesco Caio Chairman: Richard Lapthorne |
| Industry | Telecommunication |
| Products | Various |
| Revenue | Image:Red down.png£3.22 billion GBP (2005) |
| Employees | 4,398 UK |
| Website | www.cw.com |
Cable and Wireless NYSE: CWP LSE: CW. is a British telecommunications company. In the mid-1980's United Kingdom it was the first company to offer an alternative telephone service to British Telecom (via subsidiary Mercury Communications, merged into C&W in 1997). The company later offered cable TV to its customers, although their cable assets were sold to NTL in 2000.
Current and historical markets
Historically, Cable and Wireless has had a strong market presence in many current and former British colonies where it provided local telephone service. In particular, the company had a virtual monopoly amongst the colonies in the Caribbean region. In recent years, their market share has somewhat diminished with the dismantling of their regional monopoly and the introduction of more competition in the Caribbean, particularly from Digicel. The company was also the main fixed line operator in Hong Kong until the sale of Hong Kong Telecom to Pacific Century Cyberworks.
The company remains the main fixed-line provider in Panama, Macau, Maldives, Monaco, Seychelles, the Falkland Islands, St. Helena and Guernsey, where it operates under its own brand name, while in Bermuda it provides international communications only; local services are provided by Bermuda Telephone Company.
Recent events timeline
- 1998 — When MCI Communications and WorldCom merged to create MCI WorldCom, the company's existing US subsidiary Cable and Wireless USA, Inc. purchased the MCI tier 1 backbone in the U.S. Prior to 1998 Cable & Wireless USA operated a long distance telephone business and a small internet service.
- November 2001 — Cable and Wireless USA purchased bankrupt web hosting/co-location provider Exodus Communications for $800 million dollars, the operations were merged with the previously acquired Digital Island and renamed Cable and Wireless America.
- November 2002 — Cable and Wireless announced their withdrawal from the U.S. market. US telephone operations were sold to Primus Communications
- December 2003 — Cable and Wireless America, Inc. filed for Chapter 11 bankruptcy.
- March 2004, SAVVIS Communications Corporation purchased Cable and Wireless America for a sum believed to be approximately $300 million U.S. dollars.
- August 2005, C&W buys Energis for £674m.[1]