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.
Cable & Wireless Worldwide Plc, which provides telecommunications services to the U.K. police force, said full-year profit will miss estimates because of slower-than-expected sales orders. Chief Executive Officer Jim Marsh resigned.
Tata Communications Ltd. said it may make a cash offer for Cable & Wireless Worldwide Plc, setting up a potential rivalry with Vodafone Group Plc to win control of the owner of Britain’s largest U.K. business fiber network.
Cable & Wireless Worldwide Plc, which jumped 45 percent in London trading after Vodafone Group Plc said it’s evaluating a potential bid, hired NM Rothschild & Sons Ltd. and Barclays Capital as advisers before any approach.