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Vodafone bid to takeover Cable and Wireless

Vodafone's one billion pound takeover bid for Cable and Wireless Worldwide (C&WW) looks set to succeed after one investor Orbis said it would back the deal. 

C&WW needs 75 percent of  votes to push through the takeover.  

Bermuda-based fund Orbis owns a 19% stake but had originally deemed the 38 pence per share offer too low. 

The deal will turn Vodafone into the UK's second biggest telecom operator behind BT. 

Already, Vodafone has said some job losses will result from the takeover where the two firms' operations overlapped but has not given any details yet.

The deal will have no effect on LIME Jamaica which falls under Cable & Wireless Communications.



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