Cable & Wireless CEO boosts stake by three million shares

Tony Rice, the chief executive officer (CEO) of Cable & Wireless Communications (CWC), the FTSE 250 telecoms giant, has enlarged his stake in the company with the purchase of three million shares. Rice, who took on his current role three years ago, now holds 24.76m shares in the group.The stock was purchased at 37.75p a time, costing the director a total of around £1.13m. The transaction follows an announcement by CWC earlier in the week in which it revealed that it has agreed to sell its 51% stake in Companhia de Telecomunicações de Macau (CTM) to CITIC Telecom for $749.7m. The board plans to use the cash to reduce the group's debt pile and said the sale was a further step in its strategy to reshape its portfolio, reduce geographic spread and grow its business in the Central American and Caribbean region. Top Director BuysCable & Wireless Communications (CWC) Director name: Mr William Anthony RiceAmount purchased: 3,000,000 @ 37.75p Value: £1,132,500Dixons Retail (DXNS) Director name: Mr Dharmish MistryAmount purchased: 93,756 @ 26.66p Value: £24,995Kingfisher (KGF) Director name: Ms Clare ChapmanAmount purchased: 6,990 @ 285.60p Value: £19,963Top Director SellsECO Animal Health Group (EAH) Director name: Mr Peter LawrenceAmount sold: 59,640 @ 240.00p Value: £143,136DDD Group (DDD) Director name: Mr Warren LittlefieldAmount sold: 150,000 @ 23.00p Value: £34,500