CWC9 Apr 2012 12:07
Sticking with the them of directors buying shares in their own companies, Midas also noted that Tony Rice, chief executive of Cable & Wireless Communications (CWC), has acquired 4.5m shares in the telecoms firm for £1.5m since late February. CWC is an international phone group, with operations in Panama, Macau, Monaco, the Caribbean, the Falklands, Jersey and the Isle of Man. Rice admitted in February that Panama had had a disappointing 2011 and growth in the Caribbean had been sluggish. However, other regions have made good progress. CWC shares were trading at 45p before the February announcement and are now 32.25p. Rice is enthusiastic and there might be some mileage in the stock at current levels, but this is not a share for the cautious or for investors who lack patience, Midas reckons.