Vodafone acquires Cable & Wireless Worldwide: the offer is £1,04 billion to acquire one of the two units of the former C&W group, spun off in 2009 into two distinct divisions and distinctly listed on the London Stock Exchange.
Since the day of the separation, the accounts for the Worldwide division, the one acquired by Vodafone, have deteriorated with three profit warnings in a row. The deal has strong industrial logic, but a particular strong point: Vodafone, in fact, gets its hands on the largest fiber optic network in the country and on a cable network of 425 thousand kilometers from Europe to Asia. There are unconfirmed rumors of Vodafone's intention to sell part of the submarine network.
“The acquisition – he commented the CEO of Vodafone, Vittorio Colao – creates an integrated reality in the British communications world by enabling economies of scale in domestic and international operations”.
