Shareholders of Britain's Imperial Tobacco voted in favour of its € 16.2 billion-takeover of Franco-Spanish rival Altadis.

Imperial shareholders backed the € 50 (USD 68) per Altadis share cash deal at an extraordinary general meeting and were also in favour to increase the share capital of Imperial.
The British group said the offer for Altadis remains conditional on its approval by the Spanish regulator, CNMV, which is expected to be given in September or October. According to Imperial, the offer will be financed through new bank debt and a rights issue. The size of the equity issue will be set once the deal is completed and Imperial has said it will be around £ 5 billion. Imperial hopes the deal will be completed by end 2007.