Vodafone has announced that they are acquiring Cable & Wireless Worldwide for around USD 1.68 billion.
Vodafone would gain wired telephony network in the UK market with this acquisition.
The company said: “The acquisition of Cable & Wireless Worldwide creates a leading integrated player in the enterprise segment of the UK communications market and brings attractive cost savings to our UK and international operations.”
Vodafone is already a giant in the wireless market in UK and this would boost their products and offerings in this market.
Indian telecom giant Tata was also in the hunt for this acquisition deal but they withdrew a couple of days ago.