Vodafone preparing second offer for Kabel Deutschland?

17 Jun 2013

Vodafone Group is considering making an improved offer for Germany’s largest cable operator Kabel Deutschland as soon as this week, Reuters cites a person familiar with the matter as saying. The move follows the rejection of an initial bid of around EUR7 billion (USD9.3 billion) made by the UK-owned company last week, an offer Kabel Deutschland considered too low. According to three sources, Vodafone sent a letter to Kabel Deutschland last week announcing its interest and indicating a price of around EUR80 per share. Vodafone has confirmed that it made an offer to buy the German cableco, which has a network serving around 8.5 million households in 13 out of 16 states, but has not provided details. The group had put preliminary plans to acquire Kabel Deutschland on hold in the first quarter of this year after they surfaced in the press, but earlier this month it was reported that the British 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.

Germany, Kabel Deutschland, Vodafone Germany, Vodafone Group