The extraordinary general meeting of shareholders in Marconi Corporation plc approved the disposal to Ericsson of key assets of Marconi's telecommunications business, which was announced on October 25th 2005. Ericsson has previously received the necessary clearances for the acquisition of key assets from a number of competition authorities. Following the shareholder approval and the competition clearances the acquisition of key assets remains conditional on current consultations with trade unions. The transaction is expected to be completed in January 2006.
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