Cable & Wireless completes demerger

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The Independent Online

Cable & Wireless completed its long-awaited demerger yesterday in a move that sees the creation of separate companies for its blue-chip and regional telecoms operations.

Two companies were listed in the FTSE 100 from yesterday – with the company's investors given shares in newly created firm C&W Worldwide, which provides services to the world's largest users of telecoms, and C&W Communications, the operator of services in 38 local markets. Its split will mean there are temporarily 101 companies in the FTSE 100 blue-chip share index.