Cable & Wireless hit by surprise sell

Cable & Wireless hit by surprise sell
Richard Wilson
Veba, the German industrial group, surprised the London stock market this week when it sold its 10 per cent stake in Cable & Wireless for less than the market value.
The sale of the C&W shares to institutional investors, at 10 per cent below last week’s closing price, sent a minor tremour through the telecoms sector with the shares of C&W and other telephone operators marked significantly down.


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