The Newbury-based telecoms giant Vodafone is set to become the UK's second biggest telecoms operator after it agreed to buy Cable & Wireless Worldwide for £1.04 billion.
The firm will be second largest in the industry in the UK once the deal is completed. The largest being BT.
The company offered 38p a share for Cable & Wireless Worldwide, a 92% premium to the closing price on the day before the talks were unveiled.
"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."
More top news
Friday's lunch time weather for the west of the region
Friday's pollen count with Amanda Houston
Friday's lunch time weather for the east of the region