::::Vodafone to buy Cable & Wireless Worldwide for $1.9bn::::

<div class=&quot;custm_img_blk&quot;><img src=&quot;http://www.techgig.com/files/photo_1335232056_temp.png&quot; border=&quot;0&quot; align=&quot;left&quot; /></div><span style=&quot;text-align: left&quot;>Mobile phone group Vodafone has agreed to buy Cable &amp; Wireless Worldwide (CWW) for 1.04 billion pounds ($1.9 billion), giving it a British fixed-line network to relieve the strain on its wireless operations from data-hungry smartphone users.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>The world's biggest mobile phone operator by revenue said on Monday buying corporate telecoms specialist&nbsp;</span><span style=&quot;text-align: left&quot;>CWW</span><span style=&quot;text-align: left&quot;>&nbsp;would make it a leading player in both fixed-line and mobile</span><span style=&quot;text-align: left&quot;>telecom</span><span style=&quot;text-align: left&quot;>&nbsp;services to Britain's businesses, and it could make cost savings by using CWW's networks, both in the UK and internationally.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>Vodafone is offering CWW shareholders, who have had a torrid time since the group split from the former Cable &amp; Wireless in March 2010, 38 pence a share in cash, a 92 percent premium to the price before it declared its interest in February.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>CWW has issued three profit warnings, had the same number of chief executives and has suspended its dividend since it split.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>Vodafone can use CWW's 20,500 kilometres of&nbsp;</span><span style=&quot;text-align: left&quot;>fibre cables</span><span style=&quot;text-align: left&quot;>&nbsp;to shift data from its wireless network, which is under strain as more and more people use data-hungry smartphones.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>The mobile giant currently rents fixed lines for such capacity from the likes of CWW and BT.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>The deal also boosts Vodafone's enterprise business with the addition of contracts to provide voice, data and hosting services to British government departments and companies, and it gains CWW's international cable network.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>India's&nbsp;</span><span style=&quot;text-align: left&quot;>Tata Communications</span><span style=&quot;text-align: left&quot;>&nbsp;was also in talks to buy CWW, but withdrew last week when the two sides could not agree on a price. It was said to have indicated it could offer 35 pence a share.&nbsp;</span><br /><br /><span style=&quot;text-align: left&quot;>Shares in CWW rose 16.7 percent to 37.3 pence in early trade, reflecting shareholders' relief that a bid had materialised after Vodafone was granted three extensions by Britain's takeover panel. Vodafone's shares were broadly flat.&nbsp;</span>

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