Vodafone has succeeded in its attempt to buy Cable & Wireless in a bid to become the UK's second largest telecoms company. The £1.04 billion ($1.6 billion) purchase had been at risk thanks to a C&W shareholder rebellion, but will will now go ahead barring regulatory approval. Big Red will take control of undersea cables that connect global telephone lines, a booming business division and a national fiber-optic network, which it'll use to boost its mobile data service -- sad news for anyone hoping the company would offer triple-play services on all that shiny fiber.
Vodafone gets green light to buy Cable & Wireless, goes on a high-fiber diet originally appeared on Engadget on Mon, 18 Jun 2012 16:54:00 EDT. Please see our terms for use of feeds.
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Reuters | Email this | CommentsSource: http://www.engadget.com/2012/06/18/vodafone-cable-wireless-deal/
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