Vodafone & Tata want more time to offer Cable & Wireless Worldwide bid
Vodafone (LSE: VOD.L) and Tata Communications (NYSE: TCL) may ask for another deadline extension to make an offer for Cable & Wireless Worldwide (LSE: CW.L), reports Bloomberg, citing a Sunday Telegraph article.
According to the report, UBS AG, Vodafone's financial advisor, and Standard Chartered Plc and Morgan Stanley, representing Tata, want an extension because CWW has not given either company enough information.
Neither the spokesmen for CWW nor Vodafone would comment on the issue, while the spokeswoman for Tata could not be reached.
In mid-February, Vodafone said it was interested in acquiring the troubled service provider. Later, on March 1, India's Tata Communications revealed it was considering a bid for CWW as well. The UK's Panel for Takeover and Mergers earlier this month extended the deadline to bid for both Tata and Vodafone until March 29.