British mobile giant Vodafone Group looks set to succeed with its bid for Cable & Wireless Worldwide (CWW) after institutional investor Orbis, which holds a 19% stake in CWW, announced it would support the offer. According to Reuters, having initially held out on the basis that it felt Vodafone’s GBP0.38 (USD0.59) per share offer undervalued CWW, Bermuda-based Orbis is thought to have changed its mind, in part as it believed Vodafone would look to adjourn CWW shareholder meetings due today in order to obtain the necessary support for its bid
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OVETEL Orbis confirms it will support Vodafone’s bid for CWW
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