Now Tata steps into C&WW bidding war

CABLE & Wireless Worldwide was at the heart of a £1 billion takeover battle yesterday after India’s Tata declared its interest in the struggling firm.

The conglomerate’s communications business said it was in the early stages of evaluating an offer for CWW, which is also in the sights of mobile phone giant Vodafone.

Shares in CWW closed up nearly 17 per cent to give it a market value of nearly £900 million. Vodafone has until 12 March to declare whether it intends to make an offer, while under takeover rules Tata has a deadline of 29 March.

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