Vodafone's planned merger with US mobile operator Airtouch is firmly on course after the deal received approval from Vodafone shareholders and European regulators.
Approval must now be gained from the US Federal Communications Commission and Airtouch shareholders before the merger can be completed, but Vodafone expects all to be signed and sealed by July.
The combined company, with a turnover of around $110 billion is expected to be a dominant player in the mobile world, having interests in 23 countries across Europe, the US and in other key areas.
Vodafone shareholders overwhelmingly voted to approve the merger at a shareholders meeting yesterday - 98 per cent giving the deal the nod. Airtouch shareholders will receive 0.5 Vodafone Airtouch ADSs - equivalent to five Vodafone Airtouch ordinary shares - plus $9 in cash.
Airtouch shareholders will meet on Friday to vote on the proposed merger.
Last Friday the European Commission approved the deal on the condition that Vodafone divest its interest in German operator E-Plus Mobilfunk, because Airtouch has an interest in rival German operator Mannesmann Mobilfunk (D2).
To comment on this story, email [email protected]
Worried about data privacy? Here are several ways to secure your Facebook account
The ICO is seeking an urgent warrant to investigate a major data breach - everything you need to know as the story continues to unfold
Microsoft comes up with a new way to foist its unloved and little used Edge web browser on people