Tata won't bid for Cable & Wireless Worldwide

Tata Communications drops interest in bidding for Cable &Wireless Worldwide

Associated Press

LONDON (AP) -- Shares in Cable & Wireless Worldwide PLC have dived after Tata Communications Ltd. ruled itself out as a takeover bidder, leaving Vodafone as the only potential suitor.

Cable & Wireless Worldwide shares were down 23 percent in morning trading in London.

Disclosing its intentions a day before Thursday's deadline for making an offer, Tata said it had been unable to agree with CWW on an offer price. Vodafone had no comment.

C&W Worldwide, created in 2010 following a demerger, operates a cable network serving 150 countries directly or through local partners, supplying telecoms services to businesses and public sector bodies.

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