Vodafone given more time for CWW bid decision

20 Apr 2012

Vodafone Group has been awarded an additional four days to decide whether it will make a firm offer for UK fixed line network Cable & Wireless Worldwide (CWW). The Panel on Takeovers and Mergers has agreed to extend the deadline from 19 April 2012 to 12pm on 23 April 2012, CWW confirmed in a press release, adding that ‘advanced discussions with Vodafone are ongoing with a view to establishing whether or not they might result in a formal offer for the company which the board of CWW would be willing to recommend.’ Vodafone could use CWW’s fibre network to bolster bandwidth for customers’ increasing demand for data services. The development follows an announcement earlier this week that India’s Tata Communications had dropped out of the running for CWW. Tata said it had been unable to reach an agreement with CWW on a price and as such had decided not to make an offer for the firm.

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