Vodafone said it gained shareholder approval for its $1.7 billion acquisition attempt of Cable & Wireless Worldwide, which had initially received a lukewarm reception from some C&W stakeholders. Vodafone had initially announced its acquisition plans earlier this year.
Bloomberg reported that opposition from Orbis Holdings, which controls 19.1% of C&W was withdrawn and that the deal received approval from 87.5% of C&W shareholders.
Vodafone said the acquisition of C&W, which has an extensive cable network in Europe and Asia, will strengthen its enterprise business in the U.K. and around the world. Vodafone has equity interests in mobile operations across more than 30 countries, including a 45% stake in Verizon Wireless.
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