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Richard Lapthorne, chairman of Cable & Wireless, stated: "The Board believes that a de-merger is the right structure to drive further growth and value for shareholders by enabling both businesses to pursue their strategies independently".
The Worldwide business is a provider of communications services provider such as IP, data, voice and hosting to large enterprise, reseller and carrier customers. It operates globally in 153 countries.
CWI owns and operates four regional telecoms business units in the Caribbean, Panama, Macau and Monaco & Islands, from London. It offers mobile, broadband, domestic and international fixed line services, besides enterprise and managed service telecom solutions.
The company will disclose further information, such as when the de-merger will take effect, by the end of November 2009.
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