London, Aug 11: British mobile phone giant Vodafone Group Plc is close to agreeing a 400-million-pound ($644 million) deal to buy Singlepoint, a mobile service provider, according to weekend press reports. Vodafone, the world’s largest cellphone group by sales, is reported to have been in talks to buy Singlepoint from Caudwell Group since March.
The Sunday Times newspaper said a deal is close to being signed, with banking sources saying Vodafone was well advanced with its due diligence. The Sunday Telegraph said a deal will be announced this week, and will represent a massive windfall for tycoon John Caudwell, who owns about 97% of the Caudwell Group. Vodafone was not immediately available to comment, and no one at Caudwell could be reached.

Reports said Singlepoint handles connection, billing and customer care for about 1.4 million customers, 90% of whom are on the Vodafone network. Bureau Report