Showing posts with label succeeds. Show all posts
Showing posts with label succeeds. Show all posts

Friday, September 13, 2013

Vodafone says takeover offer for Kabel Deutschland succeeds

FRANKFURT, Sept 12 | Thu Sep 12, 2013 2:31pm EDT

FRANKFURT, Sept 12 (Reuters) - Vodafone said it has secured the 75 percent of shares in Kabel Deutschland needed for its 7.7 billion-euro ($10 billion) offer for Germany's largest cable company to succeed.

"The 75 percent minimum acceptance condition has been met," Vodafone said in a statement on Thursday, adding that it would publish the definitive tender ratio on Sept. 16.

Vodafone's 87.00 euro per share offer, which includes a 2.50 euro dividend payment, for Kabel Deutschland ended on Sept. 11.

The British company, which earlier this month agreed the sale of its stake in U.S. operator Verizon Wireless for $130 billion, wants to buy Kabel Deutschland to offer more television and fixed-line services in Germany, its largest European mobile market.


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