Pension News Cable & Wireless Considers Sale Of Pension Fund 18336202

Cable & Wireless considers sale of pension fund

31 October 2007
Cable & Wireless (C&W;) is said to be considering the sale of its £2 billion pension fund to a third party.

The Sunday Telegraph reports that C&W; may agree a deal to offload its scheme, which has 15,000 members, in order to demerge its British and international businesses.

According to the Telegraph, a number of pension buyout groups are currently in discussions with the company about taking on the fund.

John Ralfe, a pension consultant to investment bank RBC Capital Markets, told the newspaper that the size of the scheme would test the capacity of the market.

“It could be a matter of getting together several buyout partners,” he commented.

C&W; operates through two business units – Europe, Asia & US and international.

The Europe, Asia & US division provides enterprise and carrier solutions to telecoms service users in these regions, as well as providing broadband services in the UK.

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Written by Editorial Team