Wednesday, June 26, 2013

Vodafone launches bid for Kabel Deutschland

Britain's Vodafone PLC,launched a takeover bid for Germany's biggest cable operator, Kabel Deutschland, which values the German company at 7.7 billion euros ($10.2 billion).

 Kabel Deutschland Holding AG, has more than 8 million customers, said Monday that its management and supervisory boards "welcome this announcement." .

 Vodafone to offer 87 euros per share. When including 3 billion euros in net debt, the deal puts Kabel Deutschland's total value at 10.7 billion euros.

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