Tata, Vodafone Get Extension For UK Telecom Bids

Law360, New York (March 29, 2012, 5:29 PM EDT) -- U.K.-based Cable & Wireless Worldwide PLC gave potential takeover suitors Vodafone Group PLC and Tata Communications Ltd. a three-week extension Thursday to decide whether either wants to make a concrete bid for the struggling telecommunications company.

Cable & Wireless's panel on takeovers and mergers said it allowed the extension “to establish whether or not their preliminary discussions with CWW might result in a formal offer for the company which the board of Cable & Wireless Worldwide would be willing to recommend.” The board had already given...
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