Vodafone Purchases Cable & Wireless
To start the week off we got wind this morning that Vodafone has made a formal offer to purchase Cable & Wireless Worldwide. The offer of $1.7 Billion (£1 Billion) if approved will launch Vodafone into being the second largest phone provider in the UK with $10.5 Billion in revenue per annum. Vodaphone will offer to C&W shareholders 38 pence for each C&W share.
Vodafone’s CEO had this to say:
“The acquisition of Cable & Wireless Worldwide creates a leading integrated player in the enterprise segment of the UK communications market and brings attractive cost savings to our UK and international operations. We look forward to working with the management and employees of Cable & Wireless Worldwide to combine our expertise for the benefit of our customers and shareholders.”
Taking a worldwide perspective, Vodafone isn’t surviving in Australia. Reports of constant dropped calls, loosing service for a whole weekend. And now running extensive advertising campaigns in an attempt to restart attention. We just hope they provide good service in the UK…
[Via: Tech Crunch]