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. Last Updated: 07/27/2016

DTelekom Eyes C&W

BONN, Germany -- Shares in Deutsche Telekom AG shot up Wednesday morning in the wake of a media report that it is planning a takeover of British telecommunications and Internet company Cable and Wireless PLC.

Both companies are expected to sign a contract soon, but not before July 19, according to an advance copy of Thursday's German business magazine Focus Money, which cited industry sources.

Deutsche Telekom would not comment on the report, but shares rose 2.93 percent to 57.64 euros ($54.75) in early morning trading in overall up market.