closedownarrowlogo-verticalmenu-barsearch Skip to main content
Jump to navigation
Vodafone news

Vodafone is set to expand its UK business with the acquisition of Cable & Wireless Worldwide (CWW).

The mobile broadband provider is reported to have offered £1.044 billion to buy out the telecoms giant - which equates to 38p per share.

As a consequence, Vodafone is set to gain access to CWW's unbundled broadband network in the UK, which is used to support a number of small service providers.

The acquisition should also help Vodafone respond to growing data demands from end-users.

John Barton, Chairman of CWW, said the offer from Vodafone will enable shareholders to crystallise a value, in cash, that represents "a significant premium" to recent trading levels.

This will avoid exposure to the risks inevitably presented by executing a medium-term improvement strategy, he stated.

Vittorio Colao, Chief Executive of Vodafone Group, said the firm is pleased to have reached agreement with the board of CWW, which has unanimously recommended the offer.

He said the deal will create a leading integrated player in the enterprise segment of the UK communications market and bring attractive cost savings to Vodafone's 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," Mr Colao added. 

Join the conversation

comments powered by Disqus

Stay up to date

  • Google+ Follow uSwitchTech
  • Subscribe to our RSS feed

Latest Comments

  • Melanie Jane Shields-Appleton 16 hours ago Ofcom unveils plan to bring... Hi David, I moved a 3 year old house on the 5th April, I was assured by BT I would get fibre but once I...
  • Simon Parker 17 hours ago Ofcom unveils plan to bring... I've just had FTTP installed in my street ( today in fact) The mind boggles as to why I will need faster...
  • Diana Taylor 20 hours ago BT Vision customers to get free... i;ve spent 2 hrs online trying to find out more about this, i then went online chat, eventually talking to...

Search news