Vodafone is thinking on to make a bid for Cable and Wireless Worldwide
Vodafone Group, UK based world’s largest mobile operator by revenue, is thinking on making an offer for Bracknell-based Cable & Wireless Worldwide (CWW), networking and telecoms company providing services to corporate customers, as reported by the company on Monday.
“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,” the company said in a statement. “There is no certainty that an offer will be made nor as to the terms on which any offer might be made. Any offer, if made, will be in cash but Vodafone reserves the right to change the specie of consideration.”
The Wall Street Journal has reported that Vodafone would offer from 700 million pounds to 900 million pounds to Cable & Wireless (C&W) having a market value of 550 million pounds as Friday’s closing price suggested. According to the experts, network quality in UK would be improved after this deal while supporting corporate business globally.
Vodafone has announced that firm intentions to make an offer will be announced by 12 March.
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