LONDON (ShareCast) - Tony Rice, the chief executive officer (CEO) of Cable & Wireless Communications (CWC), the FTSE 250 telecoms giant, has enlarged his stake in the company with the purchase of three million shares.
Rice, who took on his current role three years ago, now holds 24.76m shares in the group.
The stock was purchased at 37.75p a time, costing the director a total of around £1.13m.
The transaction follows an announcement by CWC earlier in the week in which it revealed that it has agreed to sell its 51% stake in Companhia de Telecomunicações de Macau (CTM) to CITIC Telecom for $749.7m.
The board plans to use the cash to reduce the group's debt pile and said the sale was a further step in its strategy to reshape its portfolio, reduce geographic spread and grow its business in the Central American and Caribbean region.
Top Director Buys
Cable & Wireless Communications (CWC)
Director name: Mr William Anthony Rice
Amount purchased: 3,000,000 @ 37.75p
Value: £1,132,500
Dixons Retail (DXNS)
Director name: Mr Dharmish Mistry
Amount purchased: 93,756 @ 26.66p
Value: £24,995
Kingfisher (KGF)
Director name: Ms Clare Chapman
Amount purchased: 6,990 @ 285.60p
Value: £19,963
Top Director Sells
ECO Animal Health Group (EAH)
Director name: Mr Peter Lawrence
Amount sold: 59,640 @ 240.00p
Value: £143,136
DDD Group (DDD)
Director name: Mr Warren Littlefield
Amount sold: 150,000 @ 23.00p
Value: £34,500
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