SingTel considering C&W Worldwide takeover, paper says

Southeast Asia’s largest telecoms group by subscribers and revenues, Singapore Telecommunications (SingTel) is planning a bid for FTSE 100 group Cable & Wireless Worldwide (CWPL), according to The Independent on Sunday newspaper. The paper claims SingTel has contacted as yet unnamed banking groups in Asia and Europe to explore the plan, adding that a ‘corporate adviser’ understands SingTel to be in the early stages of its plan, but that a takeover could be a distinct possibility. Neither company has commented on the rumour.