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Tata abandons offer for Cable & Wireless Worldwide

Tata Communications will not make a formal offer to purchase Cable & Wireless Worldwide the company said Wednesday, a move that makes the sole bidder for the UK-based wireline service provider. Tata, which decided to make a bid for CWW in early March, said that its decision came after it could not agree on the purchase price,

"Tata today 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 for CWW," the service provider said . A CWW spokesperson said the company "was still in ongoing talks with Vodafone."

Source: Fierce Telecom

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