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August 21, 1988

CABLE & WIRELESS TO FLOAT ITS MERCURY COMMUNICATIONS BUSINESS?

By CBR Staff Writer

Has to be a possibility, but we wouldn’t want to bet our mortgage on it: gossip in the market late last week had Cable & Wireless Plc so impressed with Racal Electronics Plc’s idea of floating a small minority in its Vodafone business that it was considering pulling a similar trick with its Mercury Communications Ltd business, giving it a similar status to its Hong Kong Telecom operation, the minority in which is traded on the Hong Kong Stock Exchange; Vodafone has been so successful that it doesn’t need its own quotation, but Mercury can still do with all the zpublicity it can get, so the idea has attractions from the visibility standpoint.

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