Deals
Vodafone Agrees to Buy Cable & Wireless for $1.7 Billion
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Vodafone Group Plc agreed to acquire Cable & Wireless Worldwide Plc for 1.04 billion pounds ($1.7 billion) in cash, adding a U.K. fixed-line network to its mobile-phone system and gaining business customers.
The world’s largest wireless operator will pay 38 pence a share in an offer recommended by Cable & Wireless directors, the companies said today. The stock surged 16 percent to 37.24 pence as of 9:54 a.m. in London, for a gain of 88 percent since Vodafone publicly expressed interest Feb. 13.