Tata looks for $2B loan to finance possible Cable & Wireless acquisition

Tata Communications (NYSE: TCL), according to a Reuters report, is trying to get $2 billion in loans to support a possible offer for Cable & Wireless Worldwide (LSE: CW.L) in addition to refinancing debt.

A report emerged last week that the Indian-based service provider was mulling a possible offer for the UK-based C&W Worldwide, its first deal in about three years.

According to unnamed sources cited in the Reuters article, Standard Chartered is serving as the M&A adviser to Tata and will also have a big part in driving "financial backing" for the bid.

However, Tata Communications is being tight-lipped about any possible deal for the UK-based service provider.

For more:
- Reuters has this article

Related articles:
Tata Communications evaluates bid for Cable & Wireless Worldwide
Vodafone considering acquisition of Cable & Wireless Worldwide
Vodafone's potential bid for Cable & Wireless fails to excite analysts
Cable & Wireless Worldwide extends Ethernet reach into the Americas

Suggested Articles

Huawei's quarterly revenue growth expanded at a slower rate due to U.S. sanctions and the impact of Covid-19 on its consumer sector.

Verizon Business has added VNS Application Edge into its Virtual Network Services portfolio to fuel enterprises' edge and cloud deployments.

The industry was a bit surprised this week when Juniper Networks pulled the trigger on Boston-area startup 128 Technology for $450 million in cash.