Tata prepares bid for C&W Worldwide, shares rocket

published 1 March 2012

Tata Communications is considering a bid for Cable & Wireless, the fiber- network operator that is also being evaluated by Vodafone, a person with knowledge of the matter told Bloomberg.

The report has sent shares of the take-over candidate rocketing 19% higher.

The Mumbai-based company is holding discussions with banks as it seeks to arrange a loan for the transaction, and has hired Standard Chartered as its adviser, the person added.