Cable & Wireless, which is sitting on a 343-million-pound ($650-million) cash pile, is considering going on a buying spree to boost its international business, a report from the Evening Standard said.
The Evening Standard quoted Harris Jones, C&W CEO as saying that "we intend to be more robust in looking at more acquisitions."
The report said the executive was confident of increasing revenue through organic growth and acquisitions and was interested in buying a state-owned telecom company on Jersey in the Channel Islands.
C&W was also expected to make a revised offer for Bermuda telecom firm KeyTech, the report said.
Harris also suggested that efforts to improve C&W's troubled UK operations would have no impact on his strategy, the report further said.