Storms batter C&W finances
CABLE & Wireless faces a massive bill for cleaning up in the aftermath of the hurricanes that have battered the Caribbean in the past month.
The telecommunications giant has phone networks across the region and in Panama. Its operations were worst hit in Jamaica, the Cayman Islands and Panama.
'There is huge damage in Jamaica and the task of calculating the costs has barely begun,' said a spokesman.
'A substantial element was insured,' he said, but admitted that not all the bill will be covered by C&W's insurance.
Sources at the Lloyd's insurance market said the total clean-up bill from hurricanes Ivan, Frances and Charley will be far higher than the initial estimates of £11bn.
About £1.5bn is expected to fall on the Lloyd's market. C&W was praised in Jamaica for keeping some services running during the storm and last week chief operating officer Kevin Loosemore visited the island.
The company has flown in supplies of mobile phones for islanders in the worst-hit areas where electricity supplies are still not fully restored.
Equipment is being ferried from other parts of the C&W empire to help with the clean-up, including eight mobile phone base stations being sent from Jamaica to the Caymans. The Cayman Islands had its international cable links severed in the storms. The break in the cables was not underwater as initially feared, but the main exchange on the island was flooded and it is not known how long it will be before normal service can be restored.
