Tags: vodafone | cable andwireless | phone

Vodafone Near Agreement to Acquire Cable & Wireless

Sunday, 22 April 2012 06:10 PM

Vodafone Group Plc is nearing a deal to acquire Cable & Wireless Worldwide Plc, adding a fixed-line network to its mobile-phone system, according to people familiar with the situation.

The world’s largest wireless operator is offering between 35 pence and 39 pence a share for Cable & Wireless, the people said, declining to be identified because the talks are private. Cable & Wireless closed at 32 pence on the London exchange on April 20, valuing the company at 879 million pounds ($1.4 billion).

Representatives at Vodafone and Cable & Wireless declined to comment. The companies may still fail to reach an agreement, the people said.

Vodafone has until midday Monday in London to make a firm offer or walk away from the talks. The Newbury, England-based company is pursuing a European fixed-line acquisition for the first time since 2010, when it ended talks with Germany’s Kabel Deutschland Holding AG. Tata Communications Ltd. last week decided against making an offer for London-based Cable & Wireless after failing to agree on a price.

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Sunday, 22 April 2012 06:10 PM
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