KPMG shares in Cable & Wireless's £22m adviser bonanza
Cable & Wireless paid £22m in advisory fees on its demerger, which included the Big Four firm
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