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Deadline extended for CWW bid

Cable & Wireless Worldwide (CWW) has responded to requests from its two potential buyers to extend the deadline for submitting a bid.

Vodafone Group and Tata Communications now have until April 19th to come to a decision over whether to make an offer for CWW, following a decision by the UK Panel on Takeovers and Mergers.

The two suitors reportedly both requested more time to reach a decision as neither believed that they had access to enough information about CWW’s business to make an informed decision.

CWW has reiterated that there is “no certainty that any offer will be made, nor as to the terms of any offer.”

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