Vodafone confirms the bid for Kabel Deutschland

Financial regulators have approved the bid but Kabel shareholders are yet to decide on the offer

by Gabriella Griffith
Last Updated: 02 Sep 2013
It’s official, Vodafone is moving in for a take-over of German cable company Kabel Deutschland with an €87 per share offer. The proposal to acquire the company for €7.7bn has been approved by German regulators and is awaiting shareholder approval.

The deal will signal the British phone company’s first move into consumer broadband and television. Vodafone already owns a 4.2% share of the cable company and the takeover will turn the German company’s 8.5 million customers into potential Vodafone clients.

The €87 per share offer comes with a dividend for shareholders of €2.50 per share – a deal which was agreed back in June. The Kabel Deutschland shareholders have until 11 September to tender their shares. Meanwhile Vodafone shares closed last night at 194 pence – valuing the company at £94bn.

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