Big news from the UK this morning: Vodafone, one of Europe’s biggest mobile operators, has made a formal offer to buy up the assets of Cable & Wireless Worldwide for £1 billion ($1.7 billion), a deal that catapults Vodafone into running its own fixed line network in the UK and specifically will give it a much bigger view to winning enterprise business — a big challenge to BT and a mark of further consolidation in the space.
Cable & Wireless, first founded in the nineteeth century and one of the biggest operators in Europe, has fallen on hard times more recently and has run through three chief executives since a restructuring in 2010.
The deal will make Vodafone the UK’s second-largest operator, with £7 billion ($10.5 billion) in annual revenue.
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