Feeds

Cable & Wireless Worldwide shareholders OK Vodafone takeover

Second biggest telco in Blighty grabs 20,000km of fibre

Eight steps to building an HP BladeSystem

More than 99 per cent of voting shareholders have approved the takeover of Cable & Wireless Worldwide by Vodafone, despite suggestions that one of the largest was holding out for more money.

Vodafone put £1,044m on the table at the end of April, but Orbis Investment Management threatened to vote its 19 per cent holding against the deal in the hope of getting a better offer. A 75 per cent majority was needed to push the deal through, leading to some sleepless nights, but it seems shareholders couldn't resist the lure of the lucre.

Sixty per cent of the shareholders turned out to vote, with 99.1 per cent of those who turned up backing the deal - which will make Vodafone the second largest telecommunications company in the UK (after BT) with annual revenues around £7bn. More importantly it gives Vodafone access to 20,400km of fibre-optic cable around the UK, which it can quickly use to reduce its reliance on BT's infrastructure.

Not included in the deal is Cable & Wireless Communications, which will continue to carry the company name in providing telco services in the Caribbean and Panama. ®

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
Bose says today IS F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.