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.
- Reuters has this article
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