CWW request extension for bid submission to March 29

The two bidders in the hunt for a possible takeover of UK based Cable & Wireless Worldwide (CWW) are reported to be seeking a second extension on the deadline to submit bits.

Citing unnamed sources, the Sunday Telegraph reported that both Vodafone and Tata Communications want to extend the current March 29 deadline.

Vodafone was originally told to make an announcement about its decision on the March 12, but when Tata Communications entered the bidding, both companies were given until the 29th to make a decision.

The newspaper reported that the extension was being sought as CWW had not provided sufficient information to the bidders for them to make a final decision.

The company is expected to be sold for at least US$1 billion.