Telecoms giant Vodafone has confirmed it is in the very early stages of considering a cash offer for troubled rival Cable & Wireless Worldwide (CWW). Such a deal would improve Vodafone's network quality in the UK as Vodafone has no fixed-line network and CWW owns the largest fibre backbone network in the UK.
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The news sent shares in the embattled CWW up 44 per cent to 27.5p, and would certainly be the best result for CWW shareholders, who have seen the shares languish on the back of a raft of profit warnings, as the company has struggled to find its footing following its demerger from Cable & Wireless Communications in March 2010.
