CABLE & Wireless Worldwide (C&WW) could sell its international operations as it seeks to focus on its core UK business.
The telecoms operator is understood to have received an informal offer of $500m (£309m) from Hong Kongand Singapore-based Pacnet.
The C&WW board is expected to consider the offer this week as it undertakes a wider review of the group’s operations.
C&WW and Pacnet both declined to comment. Tata Communications, part of Indian Tata Group, may also be interested in the international businesses, according to a report in the Financial Times.
C&WW, which generates around a quarter of its revenues from abroad, has been rocked by two profit warnings since it demerged from the former Cable & Wireless Group in 2009.
However, it announced last month it has turned cashflow positive for the first time, reporting free cash flow generation of £61m.
It is understood to be in preliminary talks to buy London-basedcloud services firm 2e2 in a deal that could be worth £400m. C&WW is keen to bolster its cloud services to offer a more complete package to its clients.