logo
Share SHARE
FONT-SIZE Plus   Neg

Cable & Wireless Confirms Extension Of Takeover Code Deadline To April 19

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,VOD.L) and Tata Communications Ltd. (TCL) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
French car maker Renault SA reported Friday higher profit in its fiscal 2015, with strong growth in automotive profit and revenues. The company announced higher dividend. Looking ahead, for fiscal 2016, Renault expects to increase group revenues at constant exchange rates and improve group operating margin. Shares of Rolls-Royce Holdings Plc were gaining around 13 percent in the morning trading in London after the engine maker reported more-than doubled profit in its fiscal year 2015, with lower one-time items. Underlying earnings were hurt by weakness in Marine markets. Further, the company halved its dividends, and still expects lower revenues next year. German steel giant ThyssenKrupp AG reported a loss in its first quarter, compared to last year's profit as sales and orders were hurt by sharp deterioration in materials businesses. The company said its overall performance in the first quarter was within its full-year forecast corridor. Looking ahead, the company continues to expect higher net income and flat sales for fiscal 2016.
comments powered by Disqus
Follow RTT