Bloomberg News

Vodafone May Be Forced to Share Cable & Wireless, Telegraph Says

May 20, 2012

Vodafone Group Plc (VOD) may be forced to share Cable & Wireless Worldwide Plc (CW/) with the company’s largest shareholder, Orbis Holdings Ltd., the Sunday Telegraph reported, without saying where it got the information.

Orbis, which initially opposed Vodafone’s approach, is willing to drop its objections if it can retain its 19 percent stake in Cable & Wireless while Vodafone buys the remaining 81 percent, according to the newspaper.

Orbis said that Vodafone’s offer of 38 pence a share does not reflect the true value of Cable & Wireless, which has the biggest fiber-optic network in the U.K., the Telegraph reported, citing a spokesman for Orbis.

To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net

To contact the editor responsible for this story: Stephen Voss on sev@bloomberg.net


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