Wireless communications provider sees stock price fall

e14news — Thu, 07 Oct 2021 07:56:07 GMT

Current Revision posted to Documents by e14news on 10/7/2021 7:56:07 AM
One of the world's leading wireless communications providers has experienced a significant fall in the value of its stock.

Cable & Wireless Communications has seen the biggest drop in six weeks in trading on the London Stock Exchange.

Analysts observed that cutting costs at a purchased company in the Bahamas may prove difficult - and this has led to a fall in the stock price.

"The one region that remains very difficult is the Caribbean," Tony Rice, chief executive of the firm, said in an e-mailed statement.

He added that the Caribbean region continues to be "challenging with tourist spend and hence consumer and business disposable income significantly below historic levels".

Founded in 1860, Cable & Wireless specialises in providing communications networks and services.

It provides applications across the UK, Asia Pacific, India, Middle East & Africa, Continental Europe and North America.

The firm is headquartered in Bracknell, Berkshire, and is a constituent of the FTSE 250 Index.