Liberty Global receives shareholder approval for its planned acquisition of Cable & Wireless Communications Plc.
Last November, Liberty Global said that it wanted to acquire Caribbean cable operator Cable & Wireless Communications in a cash and stock deal valued at $5.3 billion.
At the general meeting of shareholders held on Wednesday, April 20 in Denver, Colorado, the proposals garnered overwhelming support with over 99% of the votes cast, representing over 86% of all outstanding votes, in favour of the proposals.
On April 28, 2016, CWC will hold a general meeting of its shareholders to consider resolutions relating to the proposed acquisition. If those resolutions are approved, Liberty Global expects to complete the acquisition on May 16, 2016.