C&W raises stakes in IDC takeover bid battle

C&W raises stakes in IDC takeover bid battle
Richard Wilson
Cable and Wireless has raised its bid for Japanese telecoms operator IDC. The UK’s second largest telephone operator would not give details of the new bid, but said it was confident that the bid had been well received.
C&W had been considering its legal options in a bid battle with Japanese rival NTT over the acquisition of IDC. The UK government had also been drawn into the takeover battle raising fears of a telecoms trade war with Japan.
The government believes the contested bid may raise competition and regulatory policy issues. C&W already owns 17.7 per cent of IDC.

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