MUMBAI: India's Tata Communications Ltd is preparing to bid for Britain's Cable & Wireless Worldwide Plc, possibly in the next two weeks, the Times of India reported on Thursday, citing sources directly briefed on the matter.
It would be joining Vodafone Group, which said in February, it is considering bidding for Cable & Wireless Worldwide, whose fixed-line network could boost bandwidth for its Internet-hungry customers.
The Times of India report said Cable & Wireless Worldwide could fetch a valuation of more than $1.2 billion. Will Cameron, a spokesman for Cable & Wireless Worldwide, declined to comment, the newspaper said.
Tata Communications, part of India's Tata conglomerate, operates submarine cable networks and provides internet services.
Officials at Tata Communications could not be immediately reached for comment by Reuters.
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