Vodafone gets more time for CWW bid

News Broadband 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.

Categories:

Fixed

Companies:

Vodafone,  Cable&Wireless Worldwide

Regions:

Global

Countries:

United Kingdom

Tags:

Voice services, Data services, Wholesale, Enterprise, M&A buyouts & divestments

Related Articles

GLOBAL 24 APR 2012

Cable & Wireless Worldwide shareholder rejects Vodafone deal

The largest single shareholder of Cable & Wireless Worldwide (CWW), international fund manager Orbis, has refused to support the proposed GBP 1 billion sale of the company to Vodafone, reports the Press Association. Orbis controls 19 percent of CWW and believes that Vodafone's offer undervalues the company, despite being a 92 premium to the closing share price on the day before the talks were announced. An Orbis spokesperson said that it had declined to give an irrevocable undertaking or letter of intent to

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 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Tata Communications has withdrawn from bidding for Cable&Wireless Worldwide.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.

GLOBAL 1 MRT 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.

UNITED KINGDOM 15 FEB 2012

C&W Worldwide CEO would benefit from Vodafone deal

Cable & Wireless Worldwide's CEO Gavin Darby could make more than GBP 600,000 if the company is sold to Vodafone, reports The Telegraph. A deal would trigger a change of ownership clause in his contract. This would allow him to receive the equivalent of his basic salary for one year. He will also benefit from a 35 percent jump in C&W Worldwide's share price over the past couple of days to 26.65p. Darby joined C&W Worldwide from Vodafone after a disagreement with CEO Vittorio Colao and is unlikely to remain

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.

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.