Vodafone has started its public takeover of Kabel Deutschland after its €7.7 billion offer was approved by Germany’s Federal Financial Supervisory Authority.
As of today, Vodafone said it had launched its €87.00 per-share offer for the entire share capital of Kabel Deutschland – a premium of 51% Kabel Deutschland’s average share price during the three-month period ending 12 February 2013, which was the last trading day before news articles first appeared reporting Vodafone’s interest in Kabel Deutschland.
Kabel Deutschland shareholders can now accept the offer and tender their shares, with the acceptance period due to end on September 11. So far, Vodafone has purchased 3,750,462 shares, representing roughly 4.2% of Kabel Deutschland’s total share capital.
Vodafone agreed to buy Kabel Deutschland on June 24, in a deal that will establish the UK mobile operator as a leading triple-play cable provider in Germany – offering TV, broadband, mobile and fixed-line phone services.
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12 May 2021 @ 19:00:01 UTC