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Vodafone considers offer for Cable & Wireless

13 february 2012, 17:48
0
©AFP
©AFP
Mobile phone giant Vodafone said Monday it was considering an offer for Cable & Wireless Worldwide, the global telecoms company set up in the 1860s to run the British empire's communications network, AFP reports.

In a regulatory statement issued in response to press speculation about a deal, Vodafone said it "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".

Vodafone, with operations around the world, said there was "no certainty that an offer will be made nor as to the terms on which any offer might be made".

"Any offer, if made, will be in cash but Vodafone reserves the right to change the (terms) ... A further announcement will be made in due course, if appropriate."

Under British regulations, Vodafone must make its intentions clear as to an offer by March 13.

Press reports at the weekend said the deal could be worth some £700 million (836 million euros, $1.14 billion).

Cable & Wireless was involved from the start in the laying of submarine cables around the world which linked the outposts of the British empire as it expanded in the 19th century.

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