Cable & Wireless Communications Increases Political Donations

By Rory Gallivan

LONDON--Cable & Wireless Communications PLC (CWC.LN) donated $100,916 to political parties in the year to March 31, up from $91,126 in the previous 12 months, the Caribbean-focused telecommunications company said in its annual report Friday.

CWC, which operates in Panama, Jamaica and other countries in the region, didn't give details of the donations except to say that they were "made to non-EU political parties by non-EU subsidiary companies during the year."

The company wasn't immediately available for comment.

CWC's activities frequently bring it into contact with politicians, particularly in Panama and Trinidad, where it operates as part of joint ventures with governments.

Donating to political parties is rare among companies quoted on the London Stock Exchange. Listed companies that have made political donations include public relations and marketing company Chime Communications PLC (CHW.LN), which said in its latest annual report that it donated 5,500 pounds ($9,250) to "various organizations connected with the [U.K.] Conservative Party."

CWC's sector peer BT Group PLC (BT) said in its latest annual report that it paid GBP3,000 to cover the cost of a meeting with Scottish National Party politicians but stated its "policy is that no company in the group will make contributions in cash or kind to any political party."

Political donations can be a source of opposition among shareholders. In 2012, 30% of shareholders voted against online gambling group Betfair Group PLC's (BET.LN) request for permission to make political donations.

Shares at 1237 GMT, unchanged at 51 pence valuing the company at GBP1.3 billion ($2.2 billion)

-Write to Rory Gallivan at [e-mail]; Twitter: @RoryGallivan

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