CWW bid deadline extended

The “put up or shut up” deadline for parties interested in Cable & Wireless Worldwide was extended yesterday, giving Tata Communications and Vodafone three more weeks to consider their options. This is the second time Vodafone, whose deadline was originally 12 March, has been granted more time. The companies are thought to be frustrated by the lack of information provided by CWW, whose shares – which have gained 70 per cent since Vodafone said in February it was considering a bid – dropped 1.6 per cent.