Cable & Wireless Communications Plc agreed to sell its 55 percent stake in Monaco Telecom to French entrepreneur Xavier Niel for 322 million euros ($445 million) as it focuses on the Caribbean and Latin America.
With Cable & Wireless Worldwide Plc languishing as the world’s cheapest telecommunications carrier, Vodafone Group Plc and private equity firms may not be able to resist making offers for the British fiber-network operator.
Cable & Wireless Worldwide Plc’s largest shareholder refused to support Vodafone Group Plc’s 1.04 billion pounds ($1.7 billion) offer, saying the bid doesn’t reflect the value of the U.K. fixed-line network operator.
Tata Communications Ltd. was given more time to make a bid for Cable & Wireless Worldwide Plc, the fiber-network operator that is also being evaluated by Vodafone Group Plc, two people with knowledge of the matter said.
Vodafone Group Plc agreed to acquire Cable & Wireless Worldwide Plc for 1.04 billion pounds ($1.7 billion) in cash, adding a U.K. fixed-line network to its mobile-phone system and gaining business customers.