Telecom operator Vodafone on Monday launched an agreed takeover bid for Cable & Wireless Worldwide PLC which values the company at 1 billion pounds ($1.6 billion).
Vodafone Europe said it is offering 38 pence per share, a 92 percent premium over the closing price on Feb. 10, the day before Vodafone signaled its interest.
The board of Cable & Wireless Worldwide, which supplies cable network services, is backing the offer as "fair and reasonable."
From: http://ping.fm/2en6k
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