BICC sells telecoms cable unit for pounds 82m
Tuesday 02 March 1999
The sale will further slim BICC down, leaving it with just an energy and data cables division and Balfour Beatty, now specialising in rail maintenance and building management.
Analysts were surprised that BICC had decided to quit the high growth telecoms sector of the cable market, and the shares fell by 5p to 84.5p. But Alan Jones, chief executive, defended the "radical move" on the grounds that BICC did not have the resources to expand the division and invest in the latest optical technologies. He said the deal would reduce the volatility of BICC's earnings
The business, which has 2,000 employees, made a pounds 15m loss last year compared with a pounds 17m profit in 1997, due to a 40 per cent decline in prices and the Asian economic downturn.
Malaysia Airlines plane crash exposes alarming flaw in airline security: over one billion flights made last year without stolen-passport check
International Women's Day 2014: The shocking statistics that show why it is still so important
Teacher shows sex tape featuring herself to pupils during class by mistake
Swarm of killer bees sting woman 1,000 times
Dead woman's body found sitting in a car after six years after direct debits ran $54,000 bank account dry
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
Exclusive: Impact of immigrants on British workers ‘negligible’
Vince Cable: Teachers 'know absolutely nothing' about the world of work
Ukraine crisis: Russia pledges to 'retaliate against sanctions' as Ukrainian president says Crimea vote will not be recognised
- 1 International Women's Day 2014: The shocking statistics that show why it is still so important
- 2 Australian man Rod Sommerville reacts to bite from deadly snake by reaching for cold beer
- 3 Singapore sting: Sky-high prices are pushing locals to the edge of affordability
- 4 Russia has made 'big miscalculation' over Ukraine warns Hague
- 5 Swarm of killer bees sting woman 1,000 times
iJobs Money & Business
£12000 per annum: Inspiring Interns: The company works with Tier 1 FTSE 100 Ba...
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£37000 - £40000 per annum + £20000 benefits package: Pro-Recruitment Group: **...
£30000 - £35000 per annum + generous benefits: Pro-Recruitment Group: Mixed Ta...