Editing Cable & Wireless Worldwide

{{Short description|British multinational telecommunications services company}}
{{for|the former Cable & Wireless business that Cable & Wireless Worldwide succeeded in 2010|Cable & Wireless plc}}
{{see also|Cable & Wireless Communications}}
{{Use dmy dates|date=December 2021}}

{{Infobox company
| name               = Cable & Wireless Worldwide PLC 
| logo               = Cable & Wireless Worldwide.svg
| logo_size          = 250px
| traded_as          = 
| company_slogan     = 
| foundation         = {{start date and age|2010|03|26|df=yes}}
| defunct            = {{start date and age|2013|04|01|df=yes}}
| successor          = [[Vodafone]]
| location           = [[Bracknell]], [[England]], [[United Kingdom|UK]]
| num_employees      = 
| industry           = [[Telecommunications industry|Telecommunications]]
| products           = 
| revenue            = [[Pound sterling|£]]2,257 million (2011)<ref name=prelims>[http://www.cw.com/assets/content/pdfs/resource/preliminary-results-2011-press-release-24-may-2011.pdf Preliminary Results 2011]</ref>
| operating_income   = £170 million (2011)<ref name=prelims/>
| net_income         = £209 million (2011)<ref name=prelims/>
| homepage           = {{URL|http://vodafone.com/business/global-enterprise}}
}}

'''Cable & Wireless Worldwide PLC'''  (informally '''Cable & Wireless''') was a British [[Multinational corporation|multinational]] [[telecommunications service]]s company headquartered in [[Bracknell]], United Kingdom. It was formed in 2010 by the split of [[Cable & Wireless plc]] into two companies, the other being [[Cable & Wireless Communications]] serving Central America and the Caribbean (and now a part of [[Liberty Latin America]]).

Cable & Wireless Worldwide specialised in servicing large corporates, governments, carriers and resellers and its services included managed [[Voice over IP|voice]], [[Data (computing)|data]] and [[Internet Protocol|IP]]-based services. It had operations in Asia Pacific, Europe, India, the Middle East & Africa and North America.<ref>{{Cite web |url=http://www.cw.com/about-cable-wireless-worldwide/ |title=C&W - About us |access-date=15 December 2010 |archive-date=27 December 2010 |archive-url=https://web.archive.org/web/20101227111027/http://www.cw.com/about-cable-wireless-worldwide |url-status=dead }}</ref> The company was bought by [[Vodafone]] in July 2012 and integrated into the business on 1 April 2013.<ref>{{cite web |url=http://enterprise.vodafone.co.uk/welcome-to-vodafone/ |title=Welcome to Vodafone &#124; Vodafone UK Enterprise |access-date=2013-07-02 |url-status=dead |archive-url=https://web.archive.org/web/20130629132629/http://enterprise.vodafone.co.uk/welcome-to-vodafone |archive-date=29 June 2013 }}</ref>

==History==
The company was formed on 26 March 2010, made up of the remaining business of Cable & Wireless plc following the demerger of the company's international division to form [[Cable & Wireless Communications]]. The split meant that the FTSE 100 Index temporarily held 101 firms, before Cable & Wireless Communications dropped to the FTSE 250 Index.<ref>[http://news.bbc.co.uk/1/hi/business/8589055.stm Cable & Wireless demerger takes the FTSE 100 to 101] BBC News, 26 March 2010</ref>

Following the split, CWW went through a tumultuous period – its shares, which hit a high of 98.5 pence after the split, valuing the group at $4.25 billion; fell to 13 pence in November 2011, increasing speculation it would be a takeover target.<ref name=VGE-H-15/>

On 28 June 2011, the board of Cable & Wireless Worldwide accepted the resignation of Jim Marsh and announced that John Pluthero, the then-Chairman, would become Chief Executive.<ref>{{Cite news |date=2011-06-28 |title=C&W Worldwide warns on earnings, CEO goes |language=en |work=Reuters |url=https://www.reuters.com/article/uk-cwworldwide-brief-idUKTRE75R0RS20110628 |access-date=2022-03-06}}</ref> On 14 November 2011, Cable & Wireless Worldwide announced that it had appointed the former Vodafone Group executive Gavin Darby as its new chief executive.<ref>[http://www.marketwatch.com/story/cw-worldwide-hires-vodafones-darby-as-ceo-2011-11-15 Cable & Wireless Worldwide hires Vodafone's Darby as CEO]</ref>

On 23 April 2012, Vodafone announced an agreement to acquire Cable & Wireless Worldwide for £1.04 billion.<ref name=VGE-H-06/><ref name=VGE-H-07/><ref name=VGE-H-08/>

Vodafone, who was looking to strengthen its integrated corporate services business arm – [[Vodafone Global Enterprise]], bid for CWW with [[Tata Communications|Tata Communications Ltd.]] also in the fray. Vodafone became the sole bidder after Tata group withdrew; and on 23 April 2012, Vodafone announced an agreement to acquire the operations of CWW for £1.04 billion in cash.<ref name=VGE-H-06>{{cite web |url=https://www.wsj.com/article/BT-CO-20120423-704569.html|title=Vodafone Buys C&W Worldwide For GBP1.04B |date=23 April 2012 |access-date=9 June 2012 |work=The Wall Street Journal }}</ref><ref name=VGE-H-07>{{cite web |url=https://www.reuters.com/article/us-vodafone-cww-idUSBRE83M08120120423 |title=Vodafone agrees to buy C&W Worldwide for $1.7 billion |date=23 April 2012 |access-date=9 June 2012 |work=Reuters|archive-date=1 July 2012 |archive-url=https://web.archive.org/web/20120701081457/http://www.reuters.com/article/2012/04/23/us-vodafone-cww-idUSBRE83M08120120423 |url-status=live }}</ref><ref name=VGE-H-08>{{cite web |url=https://www.bbc.co.uk/news/business-17810568 |title=Vodafone agrees £1bn takeover of C&W Worldwide |date=23 April 2012 |access-date=9 June 2012 |publisher=BBC News}}</ref> On 18 June 2012, CWW shareholders voted in favour of the Vodafone offer, exceeding the 75% of shares necessary for the deal to go ahead.<ref name=VGE-H-15>[https://www.bloomberg.com/news/2012-06-18/cable-wireless-largest-owner-orbis-to-vote-for-vodafone-bid.html Vodafone Gets Approval for C&W Bid as Orbis Drops Opposition]</ref> Vodafone was advised by [[UBS AG]], while [[Barclays]] and [[N M Rothschild & Sons|Rothschild]] advised Cable & Wireless.<ref name=VGE-H-09/>

The acquisition gave Vodafone access to CWW's [[Fiber-optic communication|fibre network]] for businesses,<ref name=VGE-H-08/> enabling it to take [[unified communications]] solutions<ref name=VGE-H-09>{{cite web |url=https://www.bloomberg.com/news/2012-04-23/vodafone-agrees-to-buy-cable-wireless-for-1-7-billion.html|title=Vodafone Agrees to Buy Cable & Wireless for $1.7 Billion|date=23 April 2012 |access-date=9 June 2012 |publisher=Bloomberg }}</ref><ref name=VGE-H-05>{{cite web |url=https://www.zdnet.com/article/vodafone-buys-cable-wireless-for-enterprise-boost/|title=Vodafone buys Cable & Wireless for enterprise boost |date=23 April 2012 |access-date=3 June 2024 |publisher=ZDNet }}</ref> to large enterprises in UK and globally; and expand its [[enterprise integration]] service offerings in [[emerging markets]].<ref name=VGE-H-05/><ref name=VGE-H-11>{{cite web |url=https://www.zdnet.com/article/vodafone-sees-data-growth-as-euro-economy-bites/|title=Vodafone sees data growth as Euro economy bites - ZDNET |date=22 May 2012 |access-date=3 June 2024 |publisher=ZDNet }}</ref>

The purchase was completed on 30 July 2012, and one-time CWW employee and CEO of Vodafone Global Enterprise Nick Jefferey was appointed as CEO of CWW. Cable & Wireless was fully integrated into Vodafone on 1 April 2013.<ref>{{cite news|url=https://www.marketingweek.com/vodafone-acquires-cable-wireless-worldwide/|title=Vodafone acquires Cable & Wireless Worldwide|date=23 April 2012|newspaper=Marketing Week|access-date=3 June 2024}}</ref>

==Executive remuneration==
Shareholder groups repeatedly warned about excessive executive remuneration at the company. Before it split into two separately listed companies in early 2010, Cable & Wireless suffered one of the biggest shareholder rebellions in 2009 when 38% of the shareholder register failed to back the company's pay policy at a fiery meeting. The company's highly controversial long-term incentive plan (LTIP) was calculated on 10% of the company valuation and was claimed to pay out to senior managers; in fact the members of the LTIP were the only executive directors who for the year 2009/2010 shared a £60 million bonus pool.<ref>{{Cite web |title=Cable & Wireless shares tumble on austerity warning |url=https://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/telecoms/7900347/Cable-and-Wireless-shares-tumble-on-austerity-warning.html |date=20 July 2010 |access-date=2022-03-06 |website=www.telegraph.co.uk}}</ref>

==See also==
{{Portal|Companies}}
*[[All Red Line]]
*[[Imperial Wireless Chain]]

==References==
{{Reflist}}

==External links==
* {{official website|http://www.cwc.com/}}

{{Telecommunications industry in the United Kingdom}}
{{Vodafone}}

{{Authority control}}

{{DEFAULTSORT:Cable and Wireless Worldwide}}
[[Category:Defunct telecommunications companies of the United Kingdom]]
[[Category:Telegraph companies]]
[[Category:Vodafone]]
[[Category:Companies based in Bracknell]]
[[Category:Defunct companies of England]]
[[Category:British companies established in 2010]]
[[Category:Telecommunications companies established in 2010]]
[[Category:Telecommunications companies disestablished in 2013]]
[[Category:2010 establishments in England]]
[[Category:2013 disestablishments in England]]
[[Category:Companies formerly listed on the Hong Kong Stock Exchange]]
[[Category:Companies formerly listed on the London Stock Exchange]]
[[Category:Companies formerly listed on the Tokyo Stock Exchange]]
[[Category:British companies disestablished in 2013]]