Vodafone eyeing offer for C&W Worldwide
Vodafone, the world’s largest mobile operator by revenue, said it was weighing an offer for Britain’s Cable & Wireless Worldwide, and its fixed-line network that could boost bandwidth for its Internet hungry customers.
“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 on Monday, in response to press speculation.
It appointed ex-Vodafone executive Garvin Darby as its new chief executive in November, when it cleared the decks with a host of writedowns and a halt to dividends.
The Sunday Times, which had said that Vodafone was considering a £700M bid for C&W Worldwide, also said private equity firm Apax was interested.
Vodafone said that any bid would be in cash.