Vodafone confirms interest in CWW [Herald, The (Scotland)]
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[February 14, 2012]

Vodafone confirms interest in CWW [Herald, The (Scotland)]

(Herald, The (Scotland) Via Acquire Media NewsEdge) VODAFONE has confirmed it is interested in buying Cable and Wireless Worldwide (CWW).

By making its interest public, Vodafone must now make an offer before March 12 or withdraw from talks.

Reports have suggested a cash offer of around pound(s)700 million may be on the table as the mobile phone giant seeks to bolster its network to cope with the explosion in internet traffic for handheld devices.

It said: "Vodafone regularly reviews opportunities in the sector and confirms that it is in the very early stages of evaluating the merits of a potential offer for CWW." CWW has issued a string of profit warnings since its demerger from Cable Wireless Communications in March 2010. It has a fixed- line network, used by mobile operators to provide links to mobile transmitters, or when switching offices in a process known as wholesale backhaul.


It also provides voice, data and hosting services to companies such as Next, Tesco and United Utilities, and retains an international cable network connecting more than 150 countries.

It declined to comment on Vodafone's statement.


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