More than 99 per cent of voting shareholders have approved the takeover of Cable & Wireless Worldwide by Vodafone, despite suggestions that one of the largest was holding out for more money. Vodafone put £1,044m on the table at the end of April, but Orbis Investment Management threatened to vote its 19 per cent holding against …
Does this mean that C&W are about to get worse before it gets better.
Although, I am not sure how much worse the service can get.
Actually, the root cause for that may be thrown out. The old farts who governed on the principle of "let's not spend anything so my pension fund is safe" are likely to be asked to depart as soon as it is evident that there is little of value they can contribute to the handover (naturally they will pretend otherwise, so some force may be required to crowbar them off the trough).
At that point, the company may actually resume being interested in things like customer retention and churn reduction.
Yes, I don't like them. Why? Does it show?
No wonder they could afford it
Vodafone have plenty of money for the takeover. After all they don't need to bother with trivial details like paying tax.
Re: No wonder they could afford it
I'm sure that in the Y2012/Y2013 accounts there will be a significant write down on Vodafone's profit statement , which should reduce any tax bill they may become liable for.
odafone the second largest ....with annual revenues around £7bn.
I believe Vodafone didn't make any profit in the UK which is why they didn't pay any tax. All those profits went through an empty office in Switzerland and as such are not liable for tax in any country.
phew that's lucky another year with no tax liability.
Global tax compliance will cost us all our jobs.
Any company not willing to pay taxes on the money earned in any country should not be allowed to operate in that country. Simple really. Of course, that"ll never happen as that would reduce that amount of money available to buy politicians and contrary to popular opinion some politicians are not cheap.
Any news as to what Vodafone plans to do with the CWW Datacentres? are they just interested in the Fibre infrastructure?
As C&W's HQ is in Bracknell and Vodafone is in (and almost completely taken over) Newbury, I can see the Bracknell site being shut down apart from the Ops/Datacenter building. Anyone else will likely get moved to Newbury. Of course there's no room at the Newbury HQ so they will likely be laid off. Not an unknown event for C&W staff tbh.
Hopefully they will remove some of the incompetent idiots at C&W in the process.....including my former boss who was a bully, a tyrant, and despite claiming to hate cowboy techies, was the biggest cowboy I've ever met !!
Was he an Energis guy?
Energis staff are genrally still around, thinking (pretending/waffling) they know best. I think if CW didn't buy Energis or Thus, Cable and Wireless might be a real contender still and Energis and Thus would have ceased to trade. There is no DC in Bracknell, unless your talking internal IT, which I suspect will be hard hit once the takeover completes and CWW IT is about as much use as a chocloate teapot. Vodafone intend to sell the global cable network for around £500million. Hope all the high level managers get the boot!