Tata Eyes Bid For Cable & Wireless Worldwide
In a move that would provide it with a larger presence in voice and data carriers and in the undersea cable network, Tata Communications Ltd on Thursday said it is considering buying the London-listed communications giant CWW. Vodafone Group is also believed to be eying such a purchase.
Tata Group's telecom arm is said to have hired Standard Chartered Plc to advice it on the potential purchase of CWW, which has a market value of 765 million pound ($1.2 billion).
CWW owns fixed lines that are used by mobile operators to provide links to mobile transmitters and switching offices. It also provides voice, data and hosting services to major British companies such as Next, Tesco and United Utilities, and retains an international cable network connecting more than 150 countries.