Vodafone buys Cable & Wireless in 'major step up' - ZDNet Asia News

Vodafone buys Cable & Wireless in 'major step up' - ZDNet Asia News: "United Kingdom mobile phone giant, Vodafone, has agreed to fork out 1.04 billion pounds (US$1.68 billion) to purchase ailing telecommunications company Cable & Wireless Worldwide (CWW), also based in the United Kingom.

In a joint statement Monday, both companies said they were they had reached an agreement "on the terms of a recommended cash offer, pursuant to which Vodafone will acquire the entire issued and to be issued ordinary share capital of CWW". The offer values the entire issued ordinary share capital of CWW at approximately "1,044 million pounds", the statement added."

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