U.S. Markets closed

CWW secures takeover extension for Vodafone

LONDON (AP) -- Cable & Wireless Worldwide PLC said Thursday it had secured a four-day extension to allow Vodafone to make an offer for the international telecommunications company.

The company said in a statement that Britain's takeover regulator had pushed the deadline for any potential bid back from Thursday at 5 p.m. (1600GMT) until Monday at noon.

"There can be no certainty that any offer will be made, nor as to the terms of any offer," the statement added.

CWW, 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.

The company had been courted by two suitors — Tata Communications Ltd. and Vodafone Group PLC — but Tata ruled itself out of the running on Wednesday, sending CWW shares plunging.

The company's stock closed 23 percent lower at just under 29 pence ($0.46) a share Thursday on the London Stock Exchange.