Cable & Wireless Worldwide adds 6% on revived bid speculation

Some Friday bid speculation has sparked Cable & Wireless Worldwide into life. Its shares have jumped 4.3p to 77.3p on renewed takeover talk, with a higher than normal number of shares traded (5 million at the moment). The company - surprise, surprise - refused to comment on market rumour. US giant AT&T has been mentioned as a possible predator in the past. Meanwhile there was also a vague suggestion about another possible US bid. This time the idea was that Johnson & Johnson was preparing to raise its proposed offer for UK rival Smith and Nephew from 750p to 825p a share. This has not been reflected in the share price however, which is down 6p at 706p.