Operator has until 12 noon on Monday (April 23) to decide whether to bid after rival drops out
Vodafone has been given four more days to make a decision on whether it wants to make a bid for Cable and Wireless Worldwide (CWW) after rival bidder Tata Communications withdrew its interest in the troubled broadband wholesaler.
Vodafone was granted an extension until 12 noon next Monday (April 23), just minutes before Thursday’s (April 19) 5PM deadline for the firm to announce whether or not it would make a serious bid.
Tata dropped out of the contest to buy CWW after price negotiations with the firm broke down on Wednesday.
CWW said: “CWW confirms that advanced discussions with Vodafone are on-going with a view to establishing whether or not they might result in a formal offer for the Company which the Board of Cable & Wireless Worldwide would be willing to recommend.”
Vodafone is thought to be interested in CWW because the firm controls significant broadband infrastructure that Vodafone could use to provide backhaul for its mobile network.
CWW also has significant global operations which could help boost Vodafone’s enterprise business overseas.