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Disappearing act

23 April 2012 By Quentin Webb

The UK telco is justified in recommending a 1 bln pound bid from Vodafone, even if top shareholder Orbis is unimpressed. The only rival bidder quit, and the premium is 92 pct. But Vodafone’s coyness on the synergies naturally fuels the suspicion it could afford to pay more.

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