Feeds

PCCW linked to £2.4bn bid for C&W

Rubbish! says PCCW

  • alert
  • submit to reddit

High performance access to file storage

Cable & Wireless has rejected advances by Hong Kong telco PCCW that would have valued C&W at around £2.4bn.

Talk of takeover offers between the two companies was supposed to have taken place last month, according to the FT, which reports that PCCW was prepared to cough up at least 100p a share for C&W.

Last night C&W shares closed at 57.75p. By mid morning today its shares had risen 2p (3.5 per cent) to 59.75p.

It seems PCCW is interested in C&W's operations in Macau and the Caribbean and had already lined up someone to takeover C&W's US operations, the FT says.

But in a new twist PCCW is now playing down the FT's story and denying that it made an approach to C&W.

Last week reports surfaced that PCCW was interested in C&W and another UK telco, Energis. ®

Related Stories

Energis pooh-pooh's PCCW approach
PCCW mulls Energis bid - report

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.