Vodafone has acknowledged that it is evaluating the pros and cons of a takeover bid for the troubled telecom outfit Cable & Wireless Worldwide.
The revelation was made by the company in a brief statement claiming that the company was still weighing its options and the likely benefits associated with the deal, and that it was too early to make any conclusive statement.
Cable & Wireless Worldwide is one of the leading internet and telecom service providers in the UK that boasts off having a handful of major businesses amongst its clients. The company has a sound presence in over 150 countries worldwide either directly, or through local allies.
According to various media reports, if all goes well, Vodafone will be acquiring C&WW for an amount close to the $700 million mark. There are players other then Vodafone who are in line for the bid as well.
"The collapse in CWW's market value since its demerger from Cable & Wireless in 2010 has reportedly attracted a number of suitors, also said to include private equity firm Apax Partners," notes The Telegraph.
The takeover bid from any organization may not be fruitful at all as Gavin Darby, a former Vodafone executive, seems to have stabilised the ailing business to some extent.