Cable & Wireless Worldwide PLC (CW.L) confirmed extension of takeover code deadline.
In accordance with Rule 2.6(c) of the Takeover Code, at the request of Cable & Wireless Worldwide, the Panel on Takeovers and Mergers has consented to an extension of the relevant deadlines until 5.00 p.m. on April 19, 2012 to enable each of Vodafone Group plc (VOD: Quote,VOD.L) and Tata Communications Ltd. (TCL: Quote) to establish whether or not their preliminary discussions with Cable & Wireless Worldwide might result in a formal offer for Cable & Wireless Worldwide which the Board of Cable&Wireless Worldwide would be willing to recommend.
In accordance with Rule 2.6(a) of the Takeover Code, Vodafone and Tata Communications were required to, by not later than 5.00 p.m. on March 29, 2012, either announce a firm intention to make an offer for Cable & Wireless Worldwide in accordance with Rule 2.7 of the Takeover Code or announce that they did not intend to make an offer.
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by RTT Staff Writer
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