With just 25 minutes to go before the 17:00 bid deadline on Thursday, telecoms group Cable and Wireless Worldwide (CWW) said it had extended the time required for Vodafone to come up with a formal offer for the group.
Shares sank by as much as 24% in early trading today on the news that India's Tata Communications was out of the running after having decided not to bid, leaving Vodafone the only shark circling the ship.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Is property investment still as safe as houses? Why golden era could be overThe golden era of property is over and investors are better off in the stock market, new research suggests
-
What Santander’s takeover of TSB means for customersSantander is set to buy rival TSB for £2.65 billion. What does it mean for customers, and could we see the TSB brand disappear from the high street?
