Tata drops out of bidding for Cable & Wireless Worldwide

Vodafone remains the sole bidder for the UK-based Cable & Wireless Worldwide (CWW) after the only other company that had expressed an interest announced that it was pulling out.

India’s Tata Communications had joined the battle for CWW, having shown interest in the telco’s international fibre network. Vodafone was also keen on the fibre assets, although it is understood that CWW’s tax credits would be of equal consideration.

In a short statement, Tata Communications said that it "confirms that it has been unable to reach agreement with CWW on an offer price and therefore confirms that it does not intend to make an offer."