Vodafone Gets Go-Ahead For $1.6B CWW Takeover

Law360, New York (June 18, 2012, 2:17 PM EDT) -- A unit of communications giant Vodafone Group PLC got a vital green light Monday for its planned acquisition of struggling U.K.-based Cable & Wireless Worldwide PLC for £1.04 billion ($1.67 billion) when CWW's largest shareholder withdrew its opposition to the merger.

Orbis Holdings Ltd., which owns a 19 percent stake in CWW, said Monday it believed the plan would succeed regardless of an Orbis "no" vote, after learning that most of the company's other shareholders had approved the transaction.

"In these circumstances, our opposition would only...
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