Sources: Vodafone to Propose a New Bid for Kabel on Monday

By IVCPOST Staff Reporter

Jun 23, 2013 09:35 PM EDT

Early on Monday, Vodafone went public with its revised all-cash bid for Germany's cable operator, Kabel Deutschland. Two sources with direct knowledge told Reuters on Sunday.

One source said that the proposed bid was priced at Eur87 per share piece. This included the Eur84.50 per share plus the Eur2.50 dividend that Kabel pledged its shareholders but has not yet paid. In total, that would mean Eur7.7 billion.

The two sources spoke on anonymity condition said that Kabel Deutschland looked to recommend said bid to its shareholders. However, one source said that the condition could still change.

Earlier this month, Vodafone contacted Kabel Deutschland and showed interest for the cable company. It said that it was willing to pay around Eur81 per share piece of Eur7.2 billion for the firm. However, Kabel deemed the offer inadequate. Liberty Global, owner of Unity Media made an offer of Eur85 per share piece.

Vodafone showed interest to Kabel to be able to diversify its operation through competitive and comprehensive packages with television, fixed line and broadband services for its mobile clients.

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