Kabel Confirms Initial Offer from Liberty Global

By IVCPOST Staff Reporter

Jun 18, 2013 01:02 AM EDT

Kabel Deutschland is Germany's largest cable operator. It confirmed through a statement on Monday that they received initial approach from Liberty Global PLC, US media group. This was according to a British newspaper. The paper also added that the company had put forward a Eur7.5 billion bid for the cable operator.

Kabel Deutschland did not disclose any information about the proposal.

A spokesperson for Liberty Global confirmed the report that the company made a preliminary approach. However, he did not give any further comment.

Citing people familiar with the matter, Financial Times reported that Liberty Global offered Eur85 per share. Liberty Global is owned by John Malone, a US cable TV magnate.

The offer made by Liberty Global is said to stage a bidding war with Vodafone Group PLC. Last week, Vodafone also confirmed that it made an offer to purchase Kabel Deutschland but did not give any details about said offer.

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