Cable & Wireless's war chest is overflowing after the sale of its Australian mobile business and the data communications group needs to move swiftly to make an acquisition, buy back shares - or become a bid target itself.
Singapore Telecommunications has confirmed that takeover talks are still ongoing with Australian phone company Cable & Wireless Optus.
Pacific Century CyberWorks will bid for Singapore's largest wireless carrier through its joint venture with Telstra, pending an agreement with its Australian partner.
Australia's largest telco has pulled out in front in the third generation mobile telecommunications spectrum auctions, bringing the total bids to over AU$1.1 billion.
Vodafone Group said customer growth in its Australasian operations would slow to less than 80,000 new subscribers in the June quarter.
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