Vodafone's £1bn deal for Cable & Wireless wins support

Vodafone wants to take over Cable & Wireless Worldwide Credit: Vodafone

A £1 billion bid by Newbury-based telecommunications firm Vodafone for Cable & Wireless Worldwide (CWW) is back on track. CWW's biggest shareholder has backed the deal.

The Canadian firm Orbis has changed its position and decided to back the 38p a share arrangement. If the deal goes through Vodafone would become the UK's second biggest telecoms operator after British Telecom.