Vodafone secures shareholder approval for KDG bid

Vodafone has announced that it has secured the minimum 75% shareholder acceptance for its purchase of Kabel Deutschland (KDG). Shareholders of KDG who have not yet accepted the proposed EUR7.7 billion (USD10 billion) deal may be given an additional chance to do so between 17 September and 30 September. The transaction remains subject to regulatory clearance from the European Commission (EC), and a first review is expected is by 20 September, according to Reuters.