Vodafone Completes Purchase of 76.6% Stake in Kabel Deutschland Holding

Vodafone Completes Purchase of 76.6% Stake in Kabel Deutschland Holding

The British mobile phone operator Vodafone on Monday has completed the acquisition of 76.57% stake in German cable operator Kabel Deutschland Holding (KDH), according to the company with a statement.

The European Commission authorized the September 20th operation without conditions after finding that the transaction would not significantly impede effective competition in the EU market, while the general meeting of shareholders gave its approval to the agreement on October 10th.

Vodafone, which already held 4.21% stake in the German company, introduced last June a bid of 87 euros in cash per share, equivalent to a total of 7,700 million euros.

The operation was carried out through a voluntary tender offer which made its subsidiary Vodafone Pour Verwaltungsgesellschaft, which offered 84.5 euros in cash per share plus the dividend payment of EUR 2.5, Kabel Deutschland announced on February 20th.

The combination of Vodafone and Kabel Deutschland will create a leading communications operator, with a pro forma revenues of 11,500 million euros in Germany, by offering premium unified communications services to individuals and businesses.

Closed the transaction, Vodafone will have 32.4 million mobile customers in the country, five million broadband customers and 7.6 million TV service customers.


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Photo Credit: Alex Segre



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