US telecommunications giant Verizon has confirmed its intention to buy AOL for $4.4bn (€3.9bn), turning the biggest US wireless carrier into a leading provider of content and video for the web and mobile phones.

Netflix has agreed to pay for more-direct access to Comcast’s broadband network to improve speed and reliability for its video-streaming customers, according to sources.

Vodafone Group Plc completed the biggest sale of the past decade yesterday, leaving the wireless carrier about half the size it was, as chief executive Vittorio Colao embarks on a new expansion strategy.