Deals
Vodafone Left as Sole C&W Bidder After Tata Drops Offer Plan
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Vodafone Group Plc is left as the only potential bidder for Cable & Wireless Worldwide Plc after Tata Communications Ltd. failed to agree on a price and decided against making an offer for the U.K. network operator.
Cable & Wireless plummeted as much as 24 percent in London trading today, the biggest intraday drop since Nov. 22, valuing the company at 791 million pounds ($1.3 billion). Talks about a potential bid from Vodafone are continuing and the British mobile-phone operator has until 5 p.m. today to make a firm offer, the company said yesterday.