Cable & Wireless is to re-brand Hongkong Telecom, in which it has a 54 per cent stake, in a move aimed at strengthening C&W's international identity.
The strategy, which has echoes of HSBC's US$50 million global re-branding exercise launched last year, was revealed by C&W chief executive Graham Wallace in his review to shareholders published yesterday in the group's annual report and accounts.
He said 28 companies in the group had already adopted the C&W name since 1996, with the latest taking place in Australia, where C&W has a 53 per cent stake in Australia's second largest telecommunications firm, Optus.
'During the year, Optus re-branded to become Cable & Wireless Optus, and Hongkong Telecom will change its name this year,' Mr Wallace said.
'The growth of awareness of our brand reinforced the message that Cable & Wireless is one company with a single vision and consistent global standards.' The re-branding of Hongkong Telecom is thought to be well-advanced, with some reports suggesting that the name could change by the end of this month. The proposed new name was not disclosed.
It is believed Hongkong Telecom will retain some of its identity in the re-brand, but C&W is keen to ensure that its presence is more visible, and more dominant than in the past.