Vodafone is Considering a deal with Cable and Wireless Worldwide
Vodafone Group, which is the largest mobile operator in the world by revenue, is considering a bid for Bracknell-based Cable & Wireless Worldwide (CWW), a company that provides telecommunications and network services to corporate customers.
Today, Vodafone reported,
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. 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. A further announcement will be made in due course, if appropriate.Brokerage Sanford Bernstein has reported that the offer would range from 700 million pounds to 900 million pounds. However, Cable & Wireless (C&W) has a value of 550 million pounds as closing price on Friday has suggested. Experts have also reported that the deal would improve network quality in UK. Moreover, it will also help the company in making progress in global enterprise business.
Firm intentions about the offer will be made by March 12th, according to the company.
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