Tata Communications confirms possible bid for C&W Worldwide

News Broadband Global 1 MAR 2012
Tata Communications confirms possible bid for C&W Worldwide
Tata Communications confirmed its considering a cash bid to acquire Cable & Wireless Worldwide. The India-based operator said it's still at a "very preliminary stage" of considering an offer. The news follows confirmation earlier from Vodafone that it's also considering a bid for Cable & Wireless Worldwide.

Categories:

Fixed

Companies:

Vodafone,  Tata Communications,  Cable & Wireless Worldwide

Regions:

Global

Tags:

Wholesale, Enterprise, M&A buyouts & divestments

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UNITED KINGDOM 23 APR 2012

Vodafone to buy Cable&Wireless Worldwide for GBP 1.04 bln

Vodafone has agreed to buy Cable&Wireless Worldwide for GBP 1.044 billion. The mobile operator will pay GBP 0.38 per share cash for CWW, representing a premium of 107 percent on the average share price in the three months prior to announcing its interest in the company in February. Vodafone said the takeover will strengthen its enterprise business in the UK and internationally, as well as offer "attractive network and other cost-saving opportunities". CWW's management has recommended the bid to shareholders

UNITED KINGDOM 20 APR 2012

Vodafone gets more time for CWW bid

Cable&Wireless Worldwide announced an extension of the deadline for Vodafone to make a formal bid for the company. Under the UK's 'put up or shut up' rule, Vodafone was required to state its intentions by the end of 19 April. However, due to ongoing negotiations between the two companies, they have agreed an extension of the bid deadline to noon on 23 April.

UNITED KINGDOM 19 APR 2012

Tata Communications drops bid for Cable&Wireless Worldwide

Tata Communications has withdrawn from bidding for Cable&Wireless Worldwide. The India-based company said it was unable to reach an agreement on price with CWW, and as a result will not make a formal offer for the company. CWW confirmed it's still in talks with Vodafone on a possible deal. Vodafone has until 17.00hrs on 19 April to say whether it will make a formal bid for the company.

UNITED KINGDOM 29 MAR 2012

C&W Worldwide extends bid deadline to 19 April

Cable & Wireless Worldwide announced an extension of the deadline for Vodafone and Tata Communications to make a takeover bid for the company. Both companies indicated earlier their interest in acquiring C&W Worldwide, and under the UK market's so-called 'put up or shut up' rules, they were required to confirm their intentions to make a bid by 29 March. Under the agreed extension, they now have until 19 April to decide whether they will make an offer.

GLOBAL 21 MAR 2012

Tata Comm set to make formal bid for C&WW - report

India's Tata Communications will make a formal cash offer to buy UK-based Cable & Wireless Worldwide (C&WW) and plans to raise up to USD 2 billion in debt to finance the potential acquisition, writes Dow Jones Newswires citing a person familiar with the situation. Tata's decision to bid for C&WW sets the stage for a bidding war with Vodafone Group, which expressed an interest in Cable&Wireless earlier. Vodafone has until 29 March to make a binding offer for the UK-based firm. The person familiar with the si

GLOBAL 6 MAR 2012

Tata Comm may raise USD 2 bln loan for CWW - report

India-based Tata Communications is planning to raise USD 2 billion in a 3-5 year term loan to finance its potential bid for enterprise communications group Cable and Wireless Worldwide (CWW), writes The Economic Times. A banker familiar with the matter said the talks are in progress. The company is planning to raise some term funding and could also look at refinancing existing debt. Standard Chartered, which is advising Tata Communications on the potential bid, is set to bag the lead role in raising the loa

GLOBAL 1 MAR 2012

Tata Communications considers bid for C&W - report

Tata Communications is considering a bid for Cable & Wireless Worldwide, the Times of India reports citing sources briefed on the matter. Tata would go up against Vodafone, which has already confirmed its interest in C&WW. Estimated to be worth over USD 1.2 billion, C&WW operates an extensive global network and offers voice, data and IP-based services to large clients across the world. Tata is preparing to launch a bid in the next two weeks, and Standard Chartered Bank is advising the Indian company, the pa

UNITED KINGDOM 13 FEB 2012

Vodafone considers offer for Cable & Wireless Worldwide

Vodafone Group has confirmed that it is in the early stages of evaluating a potential takeover offer for Cable & Wireless Worldwide. Vodafone said that any bid would probably be in cash, but added that there was no certainty that any offer would be made. According to a report in the Sunday Times, Vodafone could offer GBP 700 million.

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