EDIT A character devised especially for the Esperanto language. The character can represent the w sound as found in English. It is commonly found used in a dipthong wherein it is preceded by a letter a, giving the sound represented by ow in the English word cow. A dipthong wherein it is preceded by a letter e is also found sometimes.
 
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U+016C LATIN CAPITAL LETTER U WITH BREVE
DEUTSCH : ENGLISH