Will Cable & Wireless Throw Down Gauntlet to BT?

15 April 2003

Rumour is rife that international telecoms titan Cable & Wireless is poised to sell its extensive overseas operations and channel the resultant warchest into an assault on the domestic citadel of BT Group, the virtual monopoly that effectively controls the UK telecoms market.

Although C&W has refused to comment on the growing speculation, word in the badlands of London EC2 is that the group is mobilizing its resources for an attack, abetted by a coalition of investment banks and financial mercenaries.

BT’s propaganda machine spun into action to affirm its dedication to “healthy competition” in the telecoms market – a sentiment (until now) as academic as it is worthy. “We are currently extra competitive in both voice and internet arenas,” a spokesman proclaimed.

Cable & Wireless last week appointed Motorola board member Francesco Caio as its new chief executive. The company is currently undergoing a restructuring programme.

Data sourced from: mad.co.uk; additional content by WARC staff