Britain's Cable & Wireless (C&W) plans to sell its remaining 14.9 per cent stake in Pacific Century CyberWorks 'in an orderly manner'. C&W yesterday informed the London Stock Exchange both it and CyberWorks were in discussions concerning the sale of its stake due to the lock-up period for half the holding expiring last Saturday. C&W said it had no timetable for the divestiture of its 3.26 billion CyberWorks' shares. Investment bankers said the announcement came as no surprise to the market, given that sentiment towards telecommunications stocks remained weak. Despite no possible buyers' names emerging yesterday, CyberWorks bucked the falling market trend and closed 0.54 per cent higher to HK$4.65 on turnover of just HK$138 million. Meanwhile, C&W also hoped to sell its effective 15.3 per cent stake in MobileOne Asia (M1), the second-largest mobile telephone company in Singapore. 'We were in discussions with other shareholders in regards to our investment in M1,' C&W official Peter Eustace said. 'We are moving towards the sale of our 30 per cent stake in Great Eastern Communications.' C&W owns a majority 51 per cent in Great Eastern Communications, which in turn is a shareholder of M1. A disposal of Great Eastern effectively means that CyberWorks, which holds the remaining 49 per cent stake, has no say about its M1 investment.