Cable & Wireless Plc’s plan to girdle the globe with digital fibre optic telecommunications cables remains intact, but the company has decided that it doesn’t need to own the cable in the US, simply to own capacity rights on it. Accordingly it has ceded management control of its Electra cable system in Texas to Communications Transmission Inc of Austin: Communications Transmission bought out Cables’ prevous 50-50 partner on the Electra system, the Missouri, Kansas & Texas Railway in April. Cable & Wireless has also given Communications Transmission a three-year option to buy out its 50% stake for an initial $23m. C&W has $50m invested in Electra.
