Cable & Wireless Communications, the London-based telecom company that dates back to the British Empire, is moving its global headquarters to South Florida.
The reason for the relocation: geography, said spokesman Steve Smith. The company is focusing on service to the Caribbean and Central America. “We want to be close to our customers and our competitors,’’ he said. “Obviously Miami is a fantastic location.’’
The move will likely come in 2014. The company has not yet determined exactly when ir where it will open offices and how many employees will be based here, Smith said.
The original Cable & Wireless was founded in the 1860s, after a Manchester cotton merchant, Sir John Pender, laid the first successful transatlantic telegraph cable. The Eastern Telegraph Company later became Cable & Wireless plc; in 1999 it bought 49 percent of Panamanian INTEL. In 2010 Cable & Wireless split into two companies. The other, Cable & Wireless Worldwide, was acquired by Vodafone in 2012.
Cable & Wireless Communications offers mobile services, land lines, internet and TV throughout the Caribbean, in Panama and Monaco. Its shares trade on the London Stock Exchange; they closed Thursday at £41.45 ($62.91) for a market cap of $1.56 billion.