Vodafone considering acquisition of Cable & Wireless Worldwide

Vodafone Group (Nasdaq: VOD), is exploring an acquisition of Cable & Wireless Worldwide (OTC: CBWWF.PK) according to a Bloomberg report.

A spokesperson for Vodafone said that any move for the service provider would be a cash deal, but emphasized that it may decide to not to buy the company at all.

Citing a Sunday Times report, Bloomberg reported that Vodafone could offer up to £700 million ($1.09 billion) for C&W, adding that Apax Partners LLP might make a run for the company. However, Apax would not comment.

Cable & Wireless has been a company in flux with two of its CEOs, Jim Marsh and John Pluthero, both leaving the company last year. But what makes C&W possibly attractive is its assets, including its UK-based core fiber network, something that Vodafone does not have right now.

London trading of Cable & Wireless jumped 45 percent Monday and closed at a three-month high of 28.54 pence (45 cents). Vodafone saw a 1 percent rise to £1.74 ($2.72) per share.

For more:
- Bloomberg has this article
- FierceWirelessEurope has this coverage

Related articles:
Cable&Wireless Worldwide CEO Jim Marsh flees following third profit warning
Cable & Wireless Worldwide extends Ethernet reach into the Americas
Cable & Wireless isn't selling its international assets

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