March 1, 2012 / 7:07 AM / 6 years ago

India's Tata Comm considering bid for C&W Worldwide-source

MUMBAI, March 1 (Reuters) - India’s Tata Communications is considering a bid for UK-based Cable & Wireless Worldwide Plc, which has a market value of $1.2 billion, and may decide on whether to proceed in the next couple of weeks, a source with direct knowledge said.

Tata Communications, part of India’s tea-to-technology Tata Group conglomerate, has hired Standard Chartered as an adviser, said the source, who declined to be identified.

A Tata Communications spokeswoman was not immediately available for comment. A Standard Chartered spokesman in India declined to comment. (Reporting by Sumeet Chatterjee; Editing by Aradhana Aravindan)

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