Vodafone gets green light to buy Cable & Wireless, goes on a high-fiber diet
Vodafone has succeeded in its attempt to buy Cable & Wireless in a bid to become the UK's second largest telecoms company. The £1.04 billion ($1.6 billion) purchase had been at risk thanks to a C&W shareholder rebellion, but will will now go ahead barring regulatory approval. Big Red will take control of undersea cables that connect global telephone lines, a booming business division and a national fiber-optic network, which it'll use to boost its mobile data service -- sad news for anyone hoping the company would offer triple-play services on all that shiny fiber.
