LONDON (AP) -- Vodafone Group PLC, the world's largest mobile telephone company, says it is considering a possible bid for Cable & Wireless Worldwide PLC.
Responding to reports in weekend newspapers, Vodafone said Monday that it was "in the very early stages of evaluating the merits of a potential offer for CWW."
The Sunday Times suggested that Vodafone might offer 700 million pounds ($1.1 billion) for Cable & Wireless, which has a market value of nearly 550 million pounds.
Vodafone now has until March 13 to either announce a firm intention to take over the company or be barred from launching a bid for six months.
The Cable & Wireless cable network serves 150 countries directly or through local partners. It also operates a U.K. fiber network serving businesses.
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