Cable & Wireless appoints Hoare Govett

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The Independent Online
Cable & Wireless appoints Hoare Govett

Cable & Wireless has appointed Hoare Govett as joint broker with Cazenove, fuelling speculation that the company expects a bid. Cable & Wireless was thrust into disarray last month by a vicious clash between Lord Young, chairman, and James Ross, chief executive, resulting in the departure of both men. One City analyst pointed out that Cazenove is also a broker to BT, which has been rumoured as a potential suitor for C&W. Shares in C&W, which said that it wanted the addition of a "more research oriented" house, rose by 5p to close at pounds 4.46.

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