It was only a matter of time. Cable & Wireless, which has emerged from the telecom bust, a much smaller and much leaner company become takeover bait. Apparently its petite charms have left the french smitten. Or so says Sunday Telegraph. France Telecom is going to make a $7.3 billion (approx.) bid for Cable & Wireless, which has become one of the fastest growing broadband providers in the UK. France Telecom, which also owns Orange in UK, is looking to increase its presence in the UK and rest of Europe. The key motivation behind this deal is to merge C&W’s BullDog broadband business with France Telecom’s Wanadoo. Bulldog has 30% of the UK DSL market. France Telecom’s spokesperson dismissed the rumors of the deal as pure fantasy. Still it would not be a big surprise, given that the European broadband business is seeing pitch battles between all comers – Italians, Germans and French.