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February 4, 1997updated 05 Sep 2016 12:38pm

C&W CONSIDERS ABANDONING VEBA AND RWE

By CBR Staff Writer

Cable & Wireless Plc is considering abandoning Veba AG and RWE AG to pursue Asian and US interests, and its future course could be decided in a round of tense meetings in Germany this week, officials at the German utilities told Reuter. New Cable & Wireless chief executive Richard Brown is a former Sprint Corp executive and has temporarily stopped further investment in Europe, the German sources said, adding that he is tempted to move Cable & Wireless into the Global One jont venture of Deutsche Telekom AG, France Telecom SA and Sprint. The German alliance will be messy to untangle because Veba has a 10.5% stake in Cable & Wireless, which in turn has 45% of Vebacom GmbH, which includes its continental interests. Meantime, Veba AG and RWE AG have agreed on a name for their telecommunications venture, picking Otelo.

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