News of the loss of chief executive Dick Brown brought a 4% fall to 696.5 pence in shares of Cable & Wireless Plc. However, the departure of a man credited with bringing a strong focus to a once struggling group has not changed analysts views that C&W is an asset-rich group with strong growth prospects. Deputy chief executive Rod Olsen takes over as acting chief executive while a committee of directors under chairman Sir Ralph Robins chooses a replacement. C&W also has to find replacements for Brown as chairman of three affiliates; cable company Cable & Wireless Communications, Hong Kong Telecommunications and Australian group Cable & Wireless Optus Ltd. European stock markets are currently buzzing with rumors of consolidations in the industry. UK fiber optic cable company Energis Plc is tipped as a favored target for one of the ambitious European telcos.
