Vodafone too was in the race to buy CWW and has a few hours left to make an offer. Tata Communications is a leading global provider of a new world of communications and wanted to make the acquisition to expand its footprints globally.
The company has been struggling over the last few quarters and had the deal gone through, it would have been an excellent opportunity for the company to expand.
Tata Communications' depth and breadth of reach in emerging markets includes leadership in Indian enterprise data services, leadership in global international voice, and strategic investments in South Africa (Neotel), Sri Lanka (Tata Communications Lanka Limited), and Nepal (United Telecom Limited).
The shares of Tata Communications were marginally up by 1.37% at 12.50 pm IST.