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Cable and Wireless logo

Cable & Wireless could be snapping up the assets of bankrupt ISP PSINet in the near future. Graham Wallace, CEO of Cable & Wireless, said that it would only happen if the price was right.

Following the recent restructuring strategy that has seen a gain of something in the region of $4bn for Cable & Wireless he said that they would remain cautious over the next 12 months with its cash reserve.

Cable & Wireless has reported over £4bn in exceptional gains following a restructuring strategy that saw the company sell off some of its operations in favour of expansion into the ISP market

Not a bad result considering that Cable & Wirless's shares recently fell to their lowest point in nine years following profits warnings.


To view Cable and Wireless's history click here.


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