Tata drops out of running for CWW

19 Apr 2012

India’s Tata Communications has said it will not submit an offer for Cable & Wireless Worldwide (CWW), leaving Vodafone as the sole potential bidder for the UK fixed line network operator. Tata said it had been unable to reach an agreement with CWW on a price for the firm and therefore had decided to pull out of the running, Reuters cites a statement from the Indian company as saying. Vodafone meanwhile has until 5pm today to say whether it intends to submit a bid for CWW. The company could use CWW’s fibre network to bolster bandwidth for customers’ increasing demand for data services. As previously reported by CommsUpdate, 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. At the end of that month, the pair were given an extra three weeks to decide whether they would make an offer for CWW.

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