4/20/2012 9:39:54 AM
Deadline extended for Vodafone to bid for Cable & Wireless
Vodafone has been given until Monday (23 April) to bid for Cable & Wireless (CWW), after its rival Tata dropped out of the running to take over the business.
The telecoms firm said 'advanced discussions' were ongoing with the operator. Vodafone had an original deadline of 5pm yesterday (19 April) to table a bid.
It is estimated that Vodafone could bid as much as £700m for the telecoms firm, which is run by former Vodafone CEO Gavin Darby. CWW has posted several profit warnings during the past year and posted heavy losses in its latest set of results. The company sells telecoms and internet services to organisations such as the police and business such as Tesco.
Editor: Graeme Neill