Liberty unlikely to raise KDG offer

4 Jul 2013

Liberty Global is unlikely to make a counter offer for Kabel Deutschland (KDG) after Vodafone Group last week agreed to buy the German cableco for EUR87 (USD113) per share, or EUR7.7 billion, Bloomberg cites people with knowledge of the matter as saying. US media group Liberty Global, which is owned by businessman John Malone, made a preliminary offer for KDG last month, said to be valued at EUR85 per share. According to the sources, Liberty recognises that its bid would face antitrust hurdles and considers, although the company has not made a final decision on the matter. Liberty Global already owns Germany’s second largest cableco, Unitymedia KabelBW, which was formed last year from the consolidation of Unitymedia and Kabel BW; the US firm had originally purchased the two companies in early 2010 and late 2011, respectively.

Germany, Kabel Deutschland, Liberty Global (incl. LGI), Unitymedia, Vodafone Germany, Vodafone Group