Time Warner Cable (TWC) has announced that it has entered into a definitive agreement with Duke Energy Corporation and investment funds managed by Alinda Capital Partners, to buy DukeNet Communications for USD600 million in cash, including the repayment of debt. DukeNet, which is based in Charlotte, North Carolina, is a regional fibre-optic provider that serves customers in North and South Carolina, as well as five other states in the Southeast. With a fibre network spanning 8,700 miles, DukeNet provides data and high-capacity bandwidth services to wireless carriers, data centres, local governments and enterprise customers. Duke Energy owns 50% of DukeNet. The Alinda investment funds own the remaining shares.