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Veba AG would not comment on press reports yesterday that it had been approached by SBC Communications Corp, but confirmed that it was talking to several potential buyers of a stake in its telecommunications venture, should Cable & Wireless Plc pull out of the alliance as expected. Veba has made an offer to buy back the 45% stake in its Vebacom GmbH unit from Cable & Wireless a source close to Veba told Reuter. If the offer, which was made a week ago, is accepted, Veba would have the stake held in trust in the hope of later transferring it to a new partner, the source said, but would retain its 10.4% stake in Cable & Wireless as an investment but would relinquish its seat on the board; Veba also reportedly offered to hand over its stake in the Cable & Wireless Europe joint venture to the UK firm.

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