By editorial@silicon.com, 12 November 1998 17:25
NEWS Cable & Wireless (C&W) has abandoned its planned alliance with Telecom Italia. Chief executive, Richard Brown, said the Italian company's loss of its chief executive, Gian Mario Rossignolo last month, made meaningful discussion of future plans difficult. He said C&W will reveal an alternative strategy for attacking the European market next week. The announcement came as the telco reported half-yearly pre-tax profits of £1.12bn, up 1 per cent from the first six months of last year. The underlying profit, excluding one-off and recurring items, showed a 5 per cent rise to £788m. Revenues increased 11 per cent to £4.37bn.
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below