Tata Communications has withdrawn its interest in buying UK-based telco Cable & Wireless Worldwide (CWW), leaving Vodafone as the only potential bidder.

Tata was unable to agree a price for CWW and so decided not to submit a bid for the company, Reuters reports. Vodafone has until 5pm today to make a firm offer for CWW with discussions ongoing. However, a CWW statement reiterated that there is currently “no certainty that any offer will be made, nor as to the terms of any offer.”

CWW extended the deadline for potential buyers to lodge their bids from 29 March to today, after Vodafone and Tata had reportedly asked for an extension so they could obtain more information about CWW’s operations to make a fully-informed decision on whether to make formal bids.

Tata first expressed an interest in CWW in March and appeared to be well prepared to make a bid, having reportedly raised a loan of US$2 billion and drafted in Morgan Stanley to help work on the deal.

Vodafone’s interest in CWW was first reported in February. However, the company’s board was reportedly split over whether to pursue the acquisition, with some directors concerned that buying a company with more than £5 billion of UK tax losses could have consequences on Vodafone’s reputation.

According to Reuters, CWW’s stock price has risen 88 percent since Vodafone publicly expressed its interest on 13 February.

CWW was spun off from Cable & Wireless Group in March 2010 and has since issued three profit warnings. However, the company’s UK fixed-line network and client list that includes 70 FTSE100 businesses is likely to appeal to Vodafone.