Vodafone’s decision to bid £1bn ($1.7bn) for Cable and Wireless Worldwide (CWW) underlines its ambitions to ease its reliance on BT and save on its network costs, beef up its enterprise offering and become the UK’s second largest operator in terms of revenue, behind BT, while it eyes further international expansion.
Gavin Darby, the former Vodafone executive who became CEO at Cable and Wireless Worldwide (CWW) in November 2011 has been removed from his role after Vodafone completed its acquisition of CWW.
Vodafone Group’s potential takeover of Cable and Wireless Worldwide (CWW) is a step closer to being accepted after a major shareholder withdrew its objection to the deal. The operator group’s £1.04bn bid was in doubt of being accepted after investment group Orbis, which owns 19 per cent of CWW, voiced its opposition to the takeover.
UK-based operator group Vodafone has reached an agreement to acquire fixed line network provider Cable and Wireless Worldwide (CWW) for £1bn ($1.7bn). Vodafone said the acquisition will make it the second-largest operator in the UK in revenue terms, behind BT.
UK-based carrier Vodafone has confirmed that it is mulling the prospect of taking over Cable & Wireless Worldwide (CWW). The latter’s international backbone network would bolster the core bandwidth availabel to Vodafone.