SingTel eyeing UK-based Cable & Wireless

Singapore Telecommunications is considering a bid for UK- based telecom Cable & Wireless Worldwide Plc, says a media report.

According to 'The Independent', the Southeast Asia's largest telecom firm that holds about 32 per cent stake in India's Bharti Airtel, has contacted bankers in Asia and Europe to discuss the idea.

The telecom firm is in the early stages of its plans but a takeover attempt is a possibility, a corporate advisor was quoted by the report. "SingTel is running the slide rule over Cable & Wireless.

It's less than 10 per cent of the way through the process but has contacted investment banks in Hong Kong, Singapore and London," said the source.

Cable & Wireless Worldwide demerged from Cable & Wireless Communications Plc in March.