One day after BT's shareholders approved its proposed merger with MCI, its chief UK rival Cable & Wireless also gained a green light from investors for a huger merger. The creation of C&W's new UK cable subsidiary, C&W Communications, was unanimously approved. The company, made up of C&W's Mercury telephone arm and the UK cable units of three north American telcos, will float a 14.7 per cent stake in London and New York within weeks, now that the final hurdle has been crossed.
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