Cable & Wireless announced a bilateral traffic collection and termination deal with Completel, a leading national infrastructure-based carrier serving medium and large businesses in France. Under the agreement, Completel will provide its network to connect Cable & Wireless customers' sites, particularly through direct fiber connection, and to collect and carry these customers' traffic to Cable & Wireless' international PoP in Paris. The British operator will carry a significant proportion of Completel's customers' international voice traffic over its global network.
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- In June 2003, Cable & Wireless announced a major restructuring under which it will withdraw from the U.S. market. Earlier in the year, Cable & Wireless had been optimistic that it could continue to build its business serving multinational enterprises and other carriers in the U.S. However, Cable & Wireless has now concluded that there is not a long-term viable business model, as its U.S. operations continue to consume cash and have had limited interaction with the rest of the Cable & Wireless group. At the time, Cable & Wireless said it would concentrate its efforts on the UK, where its market share is second only to BT. The larger strategy is to create a group of profitable national telecom companies with strong positions in their primary markets.
In April 2003, Cable & Wireless appointed Francesco Caio as its new CEO, replacing Graham Wallace. Caio formerly served as CEO and founder of Netscalibur and previously CEO of Omnitel and Merloni. Cable & Wireless also named Kevin Loosemore to serve in the newly created position of COO. Loosemore previously was Regional President for EMEA of Motorola and formerly CEO of IBM UK.
In November 2002, Cable & Wireless first announced plans to withdraw from domestic business markets in the US and in Continental Europe -- except for multinational Enterprise and Service Provider customers.
