BICC agrees cabling arm sale

BICC agrees cabling arm sale
Richard Wilson BICC has agreed to sell its cabling business to US firm Corning for $133m in cash. The decision is consistent with the UK construction group’s belief that telecoms cabling is no longer core to its business. “We believe that the proposed sale at an attractive price reduces the risk and volatility of earnings for BICC shareholders and demonstrates BICC’s continuing commitment to taking radical and decisive action as markets change,” said Alan Jones, the firm’s chief executive.


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