Feeds

Vodafone agrees to Cable and Wireless buy

£1bn deal to boost UK enterprise business, cut costs elsewhere

3 Big data security analytics techniques

After many weeks of negotiations, Vodafone Europe has agreed to acquire Cable and Wireless Worldwide (CWW) for a sum that values the latter company at £1,044m, or £0.38 per share.

The deal comes after Tata last week dropped out of a bid for CWW, which then gave Vodafone a deadline of Noon GMT today (April 23) to make a bid acceptable to the CWW board.

It seems the parties had a busy weekend, as the statement bringing this news to The Register was sent before breakfast, UK time.

In the statement, both Vodafone and CWW say they’ve got financiers on side and recommend the deal to their respective shareholders.

CWW has several businesses. One operates submarine cables and reports suggest Vodafone would offload it in a hurry.

A second business comprises an extensive network of UK fibre optic network, reaching 56 per cent of the population and 400 towns. The statement announcing the transaction says that network “will strengthen the enterprise business of Vodafone Group in the UK and internationally and presents attractive network and other cost saving opportunities for Vodafone Group.”

The deal’s not certain to be done, as Tata apparently has the right to make a new bid. But financial media report the conglomerate’s previous bids were well below the price offered by Vodafone. ®

Combat fraud and increase customer satisfaction

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?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
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
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
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.