Cable & Wireless shares jump as Vodafone considers bid

Share in telecoms company Cable & Wireless Worldwide (CWW) leapt 29% on Monday after Vodafone said it was considering bidding for the firm.

In a statement, Vodafone said its was "in the very early stages" of looking at an offer for CWW.

CWW, whose shares rose to 25.5 pence, was spun off from parent Cable & Wireless Communications in 2010.

According to market rules Vodafone must make a bid by 13 March or withhold bidding for a further six months.

CWW declined to comment on any possible bid but is due to make a trading update to the market on Thursday when it may provide further details.

CWW specialises in networking and broadband for corporate clients, including Tesco and the UK police service.