Vodafone Group chief executive Vittorio Colao said: "The acquisition of Cable & Wireless Worldwide creates a leading integrated player in the enterprise segment of the UK communications market and brings attractive cost savings to our UK and international operations." The interest in Cable was spurred by the collapse in its share price since it split from Cable & Wireless's Caribbean-based telecoms arm in 2010. The company has been affected by the squeeze on Government spending and the weak economy, leading it to report heavy losses for the six months to September 30 and warn of no dividend payments to bolster its balance sheet. Jonathan Jackson, head of equities at Killik & Co, said: "Vodafone is paying a reasonable price for a business that will strengthen its enterprise business in the UK and internationally, and presents attractive network and other cost-saving opportunities."