Big news in the telecoms world on Monday as the planet’s biggest mobile operator, Vodafone, (s VOD) finally announced its intention to buy British fixed line operator Cable & Wireless Worldwide (s CWC) for £1 billion ($1.7bn).
The deal, which was announced this morning after Vodafone was given a four-day extension last week, has been approved by the C&WW board. Bringing the two companies together, said Voda chief executive Vittorio Colao, would create a “leading integrated player” in the U.K. business market, and push cost savings in Britain and around the world.
More importantly, it will give Vodafone — a company that has specialized in wireless, and boasts nearly 450 million subscribers worldwide, as well as a 45 percent stake in Verizon (s VZ) — access to C&WW’s fixed line fiber network. Cable & Wireless has long been a serious player in IP services to British businesses, although its…
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