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To: Joan Osland Graffius who wrote (203792)	11/10/2002 5:24:02 PM
From: Haim R. Branisteanu	Respond to of 436258

C&W set for £1bn Global charge By Mary Fagan (Filed: 10/11/2002) Cable & Wireless is preparing to announce a one-off charge of up to £1 billion linked to the restructuring of its loss-making international business, C&W Global. The debit, which will be announced this week when the company reports its interim results, will cut the group's £2.2 billion cash pile by almost half. C&W is also expected to announce up to 3,000 job losses, but City analysts expect these to account for only part of the cash charge. A large bulk of the financial hit is thought to stem from the termination of leasing deals with other telecoms groups and includes property-related costs. Analysts say it is unlikely that the group will withdraw entirely from the US although the region remains the focus of any restructuring. telegraph.co.uk