Vodafone Announces Kabel Deutschland Agreed Deal

By IVCPOST Staff Reporter

Jun 24, 2013 06:22 AM EDT

Vodafone agreed to acquire Kabel Deutschland for Eur7.7 billion. This would be the biggest deal since 2007.Vodafone stated that it would pay Eur87 per share piece. This was after announcing its second major acquisition for the European fixed line network in 12 months.

The deal was initiated to enable more competitive packages with TV fixed line and broadband services to its mobile clients.German cable operator, Kabel Deutschland's said that it expected to recommend the offer to its shareholders. This means that Vodafone has increased its chances to bag a deal with the company against its rival Liberty Global. John Malone's firm entered the bidding fray in recent weeks.

The collaboration of the two firms will result in a group with Eur11.5 billion of forma revenue in Germany. This will result with the comapies' 32.4 million mobile clients, 5 million broadband and 7.6 million TV customers. 

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