Shares in Cable & Wireless dropped 10 per cent yesterday as it warned on profits and announced that Francesco Caio, its chief executive, was to leave in the midst of a reorganisation.

News about the reorganisation, which will see the company divided into two units, one UK and one international, is set to fan the flames of speculation about a takeover of the operator.

I’m travelling down to London to have a meeting with C&W tomorrow at our HQ. This is interesting news as I was interested how C&W was going to cope with the take over of Energis. Now it looks like they’ve split off C&W UK which will basically be Energis as was. [via]

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