C&W group hit by ‘under-investment’

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THE boss charged with reviving Cable & Wireless Worldwide believes the firm has been blighted by under-investment.

Three months into his job as chief executive, former Vodafone director Gavin Darby said the initial findings of a root-and-branch review identified strategic challenges that will take time to address. He will reveal more details in May.

Mr Darby also faces the possibility that his former bosses will pursue a takeover of the firm, which sells communications services to 70 companies in the FTSE 100 Index.

Vodafone disclosed its interest on Monday and has until March 12 to decide on an offer.

Mr Darby said yesterday: “In recent years a multiplicity of networks, support systems and overly bespoke products has resulted in a highly complex business model.”

Cable & Wireless’s Yorkshire connections date back to its takeover of its smaller rival Energis in 2005, which had an office in Leeds.

Today, the company has around 250 staff in Leeds.