Why won't Cable & Wireless spend?

By Jeff Kimber Investors watching the worth of their telecoms investments dwindle in the past 12 months have looked at Cable & Wireless as a safe haven in the sector. Following a profits warning last week, however, it has incurred the wrath of the City, and the calls for change are getting louder. Those calls range from a clear outlining of company strategy to reassure investors that C&W's plans are feasible to winding the company up completely and returning all equity to shareholders. Somewhere in between there is the possibility that, with its £4bn cash pile (set to rise to up t...