Vodafone, Tata given more time for CWW bid

30 Mar 2012

UK-based Vodafone Group and India’s Tata Communications have been awarded an extra three weeks to decide whether they want to bid for Cable & Wireless Worldwide (CWW), Reuters reports. The Panel on Takeovers and Mergers has consented to an extension of the deadline from 29 March 2012 to 5pm on 19 April 2012, to enable Vodafone and Tata to ‘establish whether or not their preliminary discussions with CWW might result in a formal offer for the company, which the board of CWW would be willing to recommend.’ Vodafone first declared an interest in acquiring CWW in mid-February, prompting India’s Tata Communications to say on 1 March that it too was considering making a bid.

United Kingdom, Cable & Wireless Worldwide, Tata Communications, Vodafone Group