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Despite shareholder protests
By John Oates
Published: 14 January 2002 07:40 GMT
Cable and Wireless is pushing ahead with its buyout of hosting company Exodus Communications despite resistance from shareholders.
This week sees the deadline for the finalisation of the deal. C&W chief executive Graham Wallace remains confident, according to the Sunday Times.
The proposed takeover values Exodus at £760m. Exodus claims it numbers 46 of the 150 most popular sites on the web among its customers.
Institutional shareholders believe C&W is paying over the odds for Exodus, which is in Chapter 11 bankruptcy protection.
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