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.