Vodafone Group eyes CWW purchase

13 Feb 2012

British mobile giant Vodafone Group is understood to be examining a potential bid for UK-based Cable & Wireless Worldwide (CWW). According to Reuters, Vodafone Group has confirmed the development, with the company cited as saying: ‘Vodafone regularly reviews opportunities in the sector and confirms that it is in the very early stages of evaluating the merits of a potential offer for CWW.’ Such a move, it is thought, is driven in part by the benefits that Vodafone could see by acquiring CWW’s fixed line network, which could bolster bandwidth for customers’ increasing demand for data services. The report also cites the Sunday Times as claiming that, as well as Vodafone Group’s offer, which is likely to be valued at GBP700 million (USD1.1 billion), private equity firm Apax could emerge as an interested bidder for CWW.

United Kingdom, Cable & Wireless Worldwide, Vodafone Group