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3/19/2012 1:44 AM ET

Vodafone Group Plc (VOD: Quote) may save £1 billion in taxes if its bid for Cable & Wireless Worldwide Plc (CW.L) succeeds, the Sunday Times reported.

Vodafone may reduce its tax bill by this amount because Cable & Wireless has posted £5.2 billion in capital losses, the report said. The savings would cover most of the cost of the potential acquisition, the report stated.

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