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Vodafone given green light for £1bn CWW





The takeover will make Vodafone, already the world’s biggest mobile company, Britain’s second largest telecommunications operator after BT, as the deal gives it a £7bn annual revenue.
Institutional investor Orbis said it would now support the offer after CWW revealed that holders of 59 percent of its shares had already backed the takeover.
Although once one of Europe’s biggest operators, CWW, founded in the 19th century, had been ailing before the buyout and had gone through three chief executives since a restructuring in 2010
A statement from Vodafone said the acquisition would strengthen its integrated corporate services business, both in Britain and internationally.
It means the firm will not have to rent fixed line capacity from BT in order to serve the rapidly growing demand for mobile data from its smartphone users.



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