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PCCW won't bid for C&W

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The will-they-won't-PCCW take-over telecoms outfit Cable & Wireless saga appears to be over.

Leading Hong Kong telco PCCW has ruled out a possible bid for C&W despite increased speculation surrounding an offer.

In a statement PCCW said that it has decided that it will "not make any further approach to C&W and will not make any offer".

So that's that then.

Reports at the weekend suggested that talks between the two companies were set to resume in a move that would value C&W at more than £2bn. Reports last week claimed that C&W had already rejected an approach by PCCW to take-over the company. ®

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