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Liberty shareholders approve CWC takeover

Published:Wednesday | April 20, 2016 | 3:57 PM

The acquisition of Cable & Wireless Communications (CWC) is now expected to wrap up by mid-May following approval of the deal Wednesday by Liberty Global Plc shareholders.

The transaction still has to hurdle a vote by CWC shareholders.

Liberty said 99 per cent of the votes cast favoured the deal to acquire all outstanding CWC shares and any other shares to be issued.

The CWC vote on resolutions to approve the sale of the company is a week away on April 28.

“If those resolutions are approved, we expect to complete the acquisition on May 16, 2016,” said Liberty in a statement.