Cable and Wireless news brings FTSE lower

Cable & Wireless saw nearly half its value wiped out today after spending the weekend locked in talks over a potential £1.5bn (€2.3bn) liability.

Cable and Wireless news brings FTSE lower
Mon, 09 Dec, 2002 - 09:06

Cable & Wireless saw nearly half its value wiped out today after spending the weekend locked in talks over a potential £1.5bn (€2.3bn) liability.

The emergency move came after C&W said late on Friday night that its debt had being downgraded and investors reacted angrily this morning.

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