Cable & Wireless Worldwide (C&W) is now at risk of being bought. LIME is not a part of C&W Worldwide, read on.
Cable & Wireless Worldwide (C&W) was a part of Cable & Wireless plc up to March 26 2010 which comprised two standalone business units. The business units were;
- Cable & Wireless Communications: A full service telecommunications company operating through four regional operating units – the Caribbean, Panama, Macau and Monaco & Islands.
- Cable & Wireless Worldwide: A global provider of critical communications infrastructure, particularly high quality IP-based managed voice, data, applications and IP-based services, to customers globally, with a focus on large corporates, governments, carriers and telecommunications resellers
Cable & Wireless Worldwide separated from Cable & Wireless Communications by way of a demerger on March 26, 2010 and is now a separately listed company. LIME is a part of Cable and Wireless Communications and is not a risk of being bought.
The Times of India reported;
MUMBAI: Tata Communications is gearing up to bid for UK’s Cable & Wireless Worldwide (C&W) after tying up $2 billion debt to finance the acquisition. The company will have to submit a formal offer by Thursday under the new UK takeover regulations.
Tata Communications said on March 2 it was evaluating an offer for C&W after The Times of India (TOI) reported the Indian company’s potential interest in the 142 year-old ailing British giant. The company, a unit of the $84 billion Tata Group, may compete with Vodafone Plc to win control of C&W.
Sources said Tata executives met with telecom ministry officials securing their support for the deal.
The Bidding Process – Who Needs C&W More?
The full story is, Tata Communications Ltd is bidding against Vodafone Group Plc for control of Cable and Wireless Worldwide. The bidding deadline has been extended until mid April for Tata Communications to properly prepare their bid. However analysts suggest that Vodafone may need C&W more than Tata. Dario Talmesio, an analyst at Informa Telecoms & Media speaking with Maryam Nemazee on Bloomberg Television’s “The Pulse” has made that suggestion.
If Tatas prevail, it would mark the latest in a series of British acquisitions by the Indian giant, which already owns Jaguar Land Rover and Corus, the steel-maker.
We will keep track of this story.