Reuters: Financial Services and Real Estate: C&W Worldwide may seek deadline extension for bids-sources

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C&W Worldwide may seek deadline extension for bids-sources Mar 29th 2012, 06:00 MUMBAI/LONDON, March 29 | Thu Mar 29, 2012 2:00am EDT MUMBAI/LONDON, March 29 (Reuters) - Takeover target Cable & Wireless Worldwide Plc is expected to seek more time for suitors Tata Communications and Vodafone to decide whether they want to bid for the company, sources with knowledge of the matter said. Both Vodafone and India's Tata Communications are facing a 1600 GMT deadline on Thursday to either announce a firm intention to make an offer for the British telecommunications company or walk away. The deadline can be extended with the permission from the regulator, the Takeover Panel in the UK. Spokeswomen for Cable & Wireless Worldwide and Tata Communications declined to comment. Vodafone could not be immediately reached in London outside business hours. Vodafone said in February it was in the early stages of looking at a bid for C&W Worldwide, which has issued a string of profit warnings since it split from Cable & Wireless Communications two years ago. Tata Communications, a unit of diversified Tata Group, said on March 1 that it too was evaluating a possible cash offer for C&W Worldwide.

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