Comcast Corp. shareholders have approved the cable giant’s plan to acquire Time Warner Cable for $45.2 billion, a deal that would combine the nation’s two largest cable companies.
Shareholders voted 99% in favor of the plan, Comcast said on Wednesday. Approval was expected, and Time Warner Cable will hold a similar investor vote on Thursday.
After shareholders give their approval, the deal still needs the go-ahead from U.S. government regulators who are trying to ensure that the combination of the two cable heavyweights would not harm competition and consumers.
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