Vodafone Increases Kabel Deutschland Offer after Rival Bid

By IVCPOST Staff Reporter

Jun 18, 2013 09:59 PM EDT

Vodafone Group Inc. increased its initial offer to buy Germany's biggest cable operator Kabel Deutschland. The offer was made after US media group Liberty Global Plc. made a counter bid. This was reported by Reuters on Tuesday citing sources that were familiar with the takeover deal.

According to Bloomberg, Vodafone told Kabel Deutschland this week that it would be willing to pay Eur85 per share piece. This was higher compared to its previous preliminary offer of Eur80 to Eur82 for the German firm.

Bloomberg added that Vodafone is still evaluating Kabel Deutschland's records prior to making an official offer.

In a rival bid, Liberty Global, owner of Unity Media, made an Eur85 per share offer after Vodafone announced that it was in discussion about a deal.

The revised offer from Vodafone matches the Liberty Global bid that is priced at Eur7.5 billion.

Vodafone was not immediately available to comment regarding said reports.

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