Tata Comm to bid for Britain's cable and wireless: Report

Mumbai: Tata Communications Ltd is preparing to bid for Britain’s Cable & Wireless Worldwide Plc, possibly in the next two weeks, the Times of India reported on Thursday, citing sources directly briefed on the matter.

It would be joining Vodafone Group, which said in February, it is considering bidding for Cable & Wireless, whose fixed-line network could boost bandwidth for its Internet-hungry customers.

[caption id=“attachment_230027” align=“alignleft” width=“380” caption=“The Times of India report said Cable & Wireless could fetch a valuation of more than $1.2 billion.”] [/caption]

The Times of India report said Cable & Wireless could fetch a valuation of more than $1.2 billion. Will Cameron, a spokesman for Cable & Wireless, declined to comment, the newspaper said.

Tata Communications, part of India’s Tata conglomerate, operates submarine cable networks and provides internet services.

Officials at Tata Communications could not be immediately reached for comment by Reuters.

Reuters