Following weekend press speculation, Vodafone has confirmed it is in the "very early stages of evaluating the merits of a potential offer" for Cable & Wireless Worldwide (C&WW), which provides voice and data services to about 6,000 enterprise users in the U.K. and across the globe. C&WW, which reported revenues of £2.26 billion (US$3.57 billion) in the financial year to March 31, 2011, saw its share price leap by nearly 30 percent early Monday morning on the London Stock Exchange to 25.5 pence, giving it a market valuation of around £687 million ($1.08 billion). Press reports suggest Vodafone may offer £700 million ($1.1 billion) in cash for the operator, which suffered an unsettling 2011 as it considered its M&A options and appointed a new CEO. (See C&W Worldwide Names New CEO, Euronews: C&W Worldwide Mulls Asset Sale and C&W Worldwide Reports Full Year.)
Meanwhile, C&W Communications, the retail services player that operates in niche markets such as the Caribbean, Macau, Monaco and Panama, and which demerged from C&WW in March 2010, is having a few operational issues. The operator saw its share price dip by nearly 17 percent Friday to 36.3 pence following an interim trading report that included a full-year earnings warning. (See C&W Comms Provides Update and C&W Does the Splits.)
France Telecom has, as anticipated, struck a deal to buy most of the stake held by Orascom Telecom Media and Technology Holding in Egyptian operator Mobinil . Once the deal is completed, France Telecom will hold a 95 percent stake in Mobinil.
British set-top box vendor Amino has reported an 18 percent increase in revenues to £51.8 million ($81.9 million) for the financial year ending November 2011, while its EBITDA (earnings before interest, tax and other costs) grew significantly to £4.4 million ($7 million). The company's share price gained 5.6 percent to 52 pence in early Monday trading on the London Stock Exchange.