Cable & Wireless Communications PLC (CWC.LN) made its debut on the London Stock Exchange at 148 pence a share Monday, the first part of the split of U.K. telecom carrier Cable & Wireless PLC (CW.LN) into two separately listed companies.

The other company resulting from the demerger, Cable & Wireless Worldwide PLC (CWW.LN), lists on the LSE Friday.

In November, Cable & Wireless, which counts BT Group PLC (BT.A.LN) as its biggest rival in the U.K., said it would push ahead with plans to demerge amid early signs of improving conditions in financial markets. But the group cut its full year earnings guidance due to tough trading conditions in the Caribbean.

Ahead of the demerger, Cable & Wireless had already split into two distinct businesses.

Cable & Wireless Communications operates fixed-line and mobile operations in former colonial countries such as Panama, Macau, some Caribbean Islands and the Channel Islands.

Cable & Wireless Worldwide specializes in offering communications services such as Internet Protocol, data, voice and hosting to large enterprise, reseller and carrier customers. It operates globally, with core markets in the U.K, Asia and Europe, Middle East and Africa, and provides connectivity in 153 countries.

At 0856 GMT, following nearly an hour of trading, Cable & Wireless Communications was trading at 147p.

-By Lilly Vitorovich, Dow Jones Newswires; 44-0-207 842 9290; lilly.vitorovich@dowjones.com
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