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03 Feb 2010
KPMG is to share in a £22m pot given to corporate advisers working on Cable & Wireless' demerger moves.
The telecommmunications giant is splitting to form Cable & Wireless Worldwide plc and Cable & Wireless Communications Plc, a move that required the corporate expertise of a number of advisers including its auditors KPMG.
"The costs and expenses related to demerger are expected to be approximately £22m, to be shared approximately £12m by Communications and approximately £10m by Worldwide," Cable & Wireless said.
Tim Pennington will serve as CFO at Cable & Wireless Communications.
At Cable & Wireless Worldwide Tim Weller will become CFO from May 2010.
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