Sterlite Technologies is in advanced discussions to acquire UK-based cabling company Brand-Rex for roughly USD 55 million, reports Economic Times.

The acquisition move, advised by PricewaterhouseCoopers (PwC), is in line with the company`s target of establishing itself among the top three players on the globe in every business segment it is into.

It is learnt that Edinburgh-based Murray Capital controlled Brand-Rex has been scouting for a buyer, and a potential transaction with the Rs 1