[Techtaffy Newsdesk]

Vodafone and Cable & Wireless Worldwide (CWW) have reached an agreement under the terms of which Vodafone will acquire Cable & Wireless for 1.04 billion pounds (roughly $1.7 billion) or 38 pence a share.

Vittorio Colao (CEO, Vodafone Group): The acquisition of Cable & Wireless Worldwide creates a leading integrated player in the enterprise segment of the UK communications market and brings attractive cost savings to our UK and international operations.

UBS is acting as sole financial adviser to Vodafone and Vodafone Group. Barclays and Rothschild are acting as joint financial advisers to CWW.

You can find the official statement by CWW here.

You can find the official statement by Vodafone here.

[Image Courtesy: Vodafone]