Vodafone eyes Cable & Wireless purchase

Vodafone (VOD) confirmed media reports that it was looking at a potential offer to acquire Cable & Wireless Worldwide. Vodafone is currently the world’s second largest wireless operator with equity interests in more than 30 countries, including a 45% stake in Verizon Wireless, while Cable & Wireless offers fixed telecommunications and IP services across 60 countries.

Published

13 years ago

February 13, 2012

BusinesSuiteOnline

Both companies are based in the United Kingdom.

“Vodafone regularly reviews opportunities in the sector and confirms that it is in the very early stages of evaluating the merits of a potential offer for CWW,” Vodafone noted in a statement. “There is no certainty that an offer will be made nor as to the terms on which any offer might be made. Any offer, if made, will be in cash but Vodafone reserves the right to change the specie of consideration. A further announcement will be made in due course, if appropriate.”

Vodafone, which recently reaped a $4.5 billion windfall from its stake in Verizon Wireless, said it has until March 12 to report plans to either make a firm intention of acquiring Cable & Wireless.

For its part, Cable & Wireless simply released a statement from its board of directors acknowledging Vodafone’s intent.

“The board will make any further announcement as may be required in due course,” the company said in a statement.

John Mahfood “I Listed on the JSE to Raise Capital for My Business”

Published

9 years ago

November 24, 2016

Managing Editor

JSE Online Trading Platform

Published

9 years ago

November 24, 2016

Managing Editor

Grace Stockholders To Vote On 3-for-1 Stock Split Today

Published

9 years ago

July 11, 2016

BusinesSuiteOnline

Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

UK Loses S&P Triple A Rating

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.