Vodafone Group Plc acquires CWW in a $1.68 billion deal

The Vodafone Group Plc has acquired Cable & Wireless Worldwide (CWW) in a $1.68 billion deal, say news reports.

The company is offering CWW shareholders 38 pence a share in cash.

Commenting on the deal, Vittorio Colao, chief executive officer, Vodafone Group Plc 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.”