4th July 2012
Vodafone on 3 July 2012 agreed to takeover 1.04 billion euro of British firm cable and Wireless Worldwide (C & WW). The decision was taken after Tata Communications withdrew itself when it failed to agree on a price.
Vodafone is the only remaining option for the British firm cable and Wireless. Vodafone made the payment of 38 pence a share. There was 92 percent premium to the C&WW share price when the offer was first made on 10 February 2012.
C&WW will provide voice, data hosting and IP-based services and applications. This will help Vodafone to expand its international cable network up to 425000 km to diversify its business further beyond mobile handsets. Vodafone is the largest telecom operator after BT in Britain. C&WW also has international assets including India.
Vodafone had rejected the taxsynergy (lower cost of debt) with the use of C&WW as it was the only reason for bid.
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