UK mobile phone giant Vodafone has agreed to buy Cable & Wireless Worldwide (C&WW) in a deal valuing the firm at just over £1bn.
Vodafone will pay 38 pence per C&WW share, giving the telecoms group a value of £1.044bn.
Reports have suggested that, if the deal goes through, Vodafone will sell off C&WW's undersea cable assets.
Indian firm Tata Communications had also been interested in buying C&WW, but scrapped its bid plans last week.
C&WW specialises in networking and broadband for corporate clients, including Tesco and the UK police service.
It split from Cable & Wireless's Caribbean-based telecoms arm in 2010.
Source & Image : BBC
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