Tata Communications Mulls Bid For Cable & Wireless Worldwide

Date : 03/01/2012 @ 3:34AM
Source : Dow Jones News
Stock : Tata Communications Limited American Depositary Shares (TCL)
Quote : 6.62  0.0 (0.00%) @ 2:05AM

Tata Communications Mulls Bid For Cable & Wireless Worldwide

Cable & Wireless (LSE:CW.)
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Tata Communications Ltd, or TCL, Thursday confirmed that it is evaluating a possible cash offer for Cable & Wireless Worldwide PLC (CW.LN), the telecoms company.

MAIN FACTS:

-Considerations are at a very preliminary stage.

-TCL is now required, by not later than 1600 GMT on March 29, 2012, to either announce a firm intention to make an offer for Cable & Wireless Worldwide or announce that it does not intend to make an offer.

-Cable & Wireless Worldwide shares at 0801 GMT flat at GBP0.28 valuing the company at GBP765 million.

-By Jana Weigand, Dow Jones Newswires; 44-20-7842-9314; jana.weigand@dowjones.com

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