Vodafone makes informal bid for Kabel Deutschland, report says

Vodafone Group made an informal takeover bid for Germany’s largest cable operator Kabel Deutschland within the last week, Bloomberg cites people with knowledge of the matter as saying. According to the sources, the pair have not yet begun formal talks because Kabel Deutschland determined that the price suggested by Vodafone was too low, although discussions could start as soon as the UK-based company comes back with a higher offer. Vodafone had put preliminary plans to acquire Kabel Deutschland on hold earlier this year after they surfaced in the press, but last week it was reported that the company was taking another look at a potential bid for the cableco, in a move that would bolster its position in the German fixed line market.