UK mobile giant Vodafone has received EC approval to acquire local telco Cable & Wireless Worldwide (CWW) without any conditions.
“The Commission concluded that the transaction would raise no competition concerns, as the parties’ activities are…
UK mobile giant Vodafone has received EC approval to acquire local telco Cable & Wireless Worldwide (CWW) without any conditions.
“The Commission concluded that the transaction would raise no competition concerns, as the parties’ activities are largely complementary,” stated the EC.
Vodafone unveiled its £1.04bn (US$1.63bn) deal for the fibre operator back in April, when it announced plans to pay CWW shareholders 38p per share.
The companies expect to hold a court hearing to sanction the takeover on 26 July.
Vodafone is being advised by UBS.
Barclays and Rothschild are advising CWW.
