Chief executive Jim Marsh has been buying shares in Cable & Wireless Worldwide following its demerger from Cable & Wireless Communications last week.
He bought 43,500 shares at 94.27p each on Friday and 203,000 at 91.8p each on Monday. The total investment was just over £227,000.
Marsh owns 651,559 shares in C&W Worldwide, which offers telecoms services in the UK and the rest of the world.
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Broker Nomura prefers C&W Worldwide to the smaller C&W Communications. It recommends C&W Worldwide as a buy and has set a target price of 110p a share. Nomura expects the company to benefit from a move from low margin voice products to higher margin data operations.
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Net debt was minimal following the demerger and C&W Worldwide is not expected to pay tax for the foreseeable future. The company is expected to retain its FTSE100 index status.
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Cable & Wireless Worldwide (CW.) Director name: Mr Jim MarshAmount purchased: 203,000 @ 91.80p Value: £186,354
Umeco (UMC) Director name: Mr Neil JohnsonAmount purchased: 50,000 @ 363.25p Value: £181,625
Volex (VLX) Director name: Mr Ray WalshAmount purchased: 40,000 @ 103.00p Value: £41,200
Cable & Wireless Worldwide (CW.) Director name: Mr Jim MarshAmount purchased: 43,500 @ 94.27p Value: £41,007
Kingfisher (KGF) Director name: Mr Kevin O'ByrneAmount purchased: 17,500 @ 224.21p Value: £39,237
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The European Investment Trust (EUT) Director name: Mr Michael MouleAmount purchased: 3,000 @ 555.02p Value: £16,651
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