Cable and Wireless to split

British telecoms group Cable and Wireless has announced plans to split into two companies by March 31 next year.



The first company, Worldwide, provides corporate and carrier services, earning most of its revenue in the UK.



The other, CWI, offers mobile and fixed-line services in 33 countries, and is a major player in the Caribbean, Macau, Monaco and Panama.



Earlier this month Cable and Wireless announced a net profit of US$198 million for the six months ending September 30.



However the company said it recorded a 10 per cent fall in revenues from its Caribbean operations.