Tata Communications rose nearly 5% and touched the day's high of Rs244.20 on the BSE, after the is preparing to bid for Britain's Cable & Wireless Worldwide Plc
Tata Communications is preparing to bid for Britain's Cable & Wireless Worldwide Plc, possibly in the next two weeks, according to the media reports.
It would be joining Vodafone Group, which said in February, it is considering bidding for Cable & Wireless, whose fixed-line network could boost bandwidth for its Internet-hungry customers.
The report said Cable & Wireless could fetch a valuation of more than $1.2 billion. Will Cameron, a spokesman for Cable & Wireless, declined to comment.
Tata Communications, part of India's Tata conglomerate, operates submarine cable networks and provides internet services.
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Tata Communications is preparing to bid for Britain's Cable & Wireless Worldwide Plc, possibly in the next two weeks, according to the media reports.
It would be joining Vodafone Group, which said in February, it is considering bidding for Cable & Wireless, whose fixed-line network could boost bandwidth for its Internet-hungry customers.
The report said Cable & Wireless could fetch a valuation of more than $1.2 billion. Will Cameron, a spokesman for Cable & Wireless, declined to comment.
Tata Communications, part of India's Tata conglomerate, operates submarine cable networks and provides internet services.
....more info