C&W face renewed takeover bid
Telecoms group Cable & Wireless will receive a £2.4bn (€3.6bn) takeover approach from a Hong Kong-based firm later this week, it was reported today.
The interest from Pacific Century Cyberworks (PCCW) is expected to value the beleaguered company at almost £1bn (€1.5bn) more than its current market price.
PCCW’s move comes a month after its chairman Richard Li, son of the Asian billionaire Li Ka-shing, had an earlier approach rebuffed by C&W.
