Telecom operator Swisscom (SCMN.VX) is considering a possible sale of its Italian broadband firm Fastweb, which is worth up to 5 billion euros ($6.3 billion) and has been a target for Vodafone (VOD.L), sources familiar with the situation said.
Vodafone Group has agreed on a domination agreement with Kabel Deutschland a few months after purchasing the German cable company for €7.7 billion. Domination agreements are used in Germany by acquirers who wish to gain full control of the company without controlling all the shares.
British telecommunications giant Vodafone Group announced on Thursday that it had secured at least 75% shareholder backing for the approval of the EUR7.7 billion or USD10.2 billion takeover bid for Kabel Deutschland.
The complications arise from the current bid by Vodafone Group Plc because of the increased shareholdings of Elliot Management Corp in Kabel Deutschland.
Vodafone Group has only a few hours left to acquire 75% of Kabel Deutschland's shares to tender its EUR7.7 billion or USD10.2 billion offer.
The Financial Times reported that Vodafone may not be able to acquire Kabel Deutschland for lack of shareholder approval.
Deutsche Telekom was cleared of any wrongdoing in lawsuit filed by Kabel Deutschland.
The boards of Kabel Deutschland formally endorsed Vodafone's EUR 7.7 billion bid to acquire Germany's largest cable operator.
John Malone of Liberty Global Plc yielded to Vodafone after losing the race for Kabel Deutschland Holding AG.
According to Experian, telecom M&A are doing well in the UK.
According to the German antitrust regulatory authority, the ownership of other service providers would delay and hamper Liberty Global's purchase of Kabel Deutschland.
Vodafone Group Plc had finalized a preliminary agreement to purchase Germany's largest company Kabel Deutschland Holding AG.
Vodafone agreed to acquire Kabel Deutschland priced at Eur7.7 billion and would be the biggest deal since 2007.
Two sources told Reuters on Sunday that Vodafone proposed a new bid for Kabel Deutschland early on Monday.
Vodafone increased its Kabel Deutschland offer matching it with Liberty Global's Eur7.5 billion bid.
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