Cable & Wireless says annual rate rose 91%

Article Abstract:

Cable & Wireless PLC posted 1.29 billion pound sterling in net profit attributable to shareholders in the year ended March 31, 1998, up 91% from 677 million pound sterling a year earlier. The results include 587 million pound sterling in one-time gains. Without one-time items, pretax profit increased from 1.41 billion pound sterling to 1.69 billion pound sterling. Revenue, including amounts connected to minority interests, saw a 19% gain to 8.3 billion pound sterling from 7 billion pound sterling. Cable & Wireless has also announced that it mat try to increase its controlling stake in Cable & Wireless Communications, the biggest cable operator in the UK.

Comment:

Posts 1.29 bil pound sterling in net profit in year ended 3/31/98, up 91% from 677 mil pound sterling a year earlier

Sales, profits & dividends

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BT to take large stake in Korean firm

Article Abstract:

British Telecommunications PLC (BT) will acquire a 23.49% stake in LG Telecom, a South Korean mobile-telephone operator, for 230 million pounds sterling ($393 million). BT will acquire the LG stake to further expand its growing market presence in Asia. BT has already established a significant presence in the Asian-Pacific region through acquisitions and partnerships with local counterparts in India, Japan, Singapore and New Zealand. The latest acquisition will enable BT and its alliance partner, AT&T Corp. to better serve multinational firms.

Comment:

Will acquire a 23.49% stake in LG Telecom, South Korea

South Korea, Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Cellular and Other Wireless Telecommunications, Mobile Radio Services, Wireless communications services, British Telecommunications PLC, LG TeleCom Ltd.

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Cable & Wireless plans high-speed link

Article Abstract:

Cable and Wireless PLC of the UK is planning for a construction of a high-speed network designed for voice and data services to corporate customers that would link 40 cities in 30 European countries. The firm expects to spend an estimated $450 million in the first two years of the project, then add another $550 million over the following three years. Cable and Wireless' new system will use Internet technology for transmitting information at high speed, compared to older telephone networks that are slow and mainly built to carry voice calls.

Comment:

Plan to build high-speed network for voice and data svcs to corporate customers that will link 40 cities in 30 European nations

Facilities & equipment

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