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Tata won't bid for Cable & Wireless Worldwide
[April 19, 2012]

Tata won't bid for Cable & Wireless Worldwide

(Associated Press Via Acquire Media NewsEdge) LONDON -- Shares in Cable & Wireless Worldwide PLC have dived after Tata Communications Ltd. ruled itself out as a takeover bidder, leaving Vodafone as the only potential suitor.

Cable & Wireless Worldwide shares were down 23 percent in morning trading in London.

Disclosing its intentions a day before Thursday's deadline for making an offer, Tata said it had been unable to agree with CWW on an offer price. Vodafone had no comment.

C&W Worldwide, created in 2010 following a demerger, operates a cable network serving 150 countries directly or through local partners, supplying telecoms services to businesses and public sector bodies.

(c) 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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