KPMG shares in Cable & Wireless's £22m adviser bonanza

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.

Further reading:

International acquisition supported by BDO