Vodafone gets approval for €7.7 billion Kabel Deutschland takeover bid

Vodafone still needs antitrust approval from European authorities

Vodafone is close to acquiring Kabel Deutschland, Germany's largest cable operator, for €7.7 billion (US$10 billion).

The minimum threshold of 75 percent of shareholders agreeing to the deal has been met, the company said in a news release Thursday. Vodafone expects to complete the acquisition by the end of the month.

The deal still needs antitrust approval from the European Commission. Phase one of that review is expected to close by Sept. 20, Vodafone said.

By buying Kabel Deutschland, Vodafone aims to become more competitive in the German market by combining fixed broadband, mobile and TV subscriptions, it said when it announced its plans in June.

A successful acquisition would provide Vodafone with the capability to offer unified communications in Germany by taking advantage of Kabel Deutschland's high-speed broadband and TV capabilities. It would also allow the company to cross-sell to consumers and businesses in Germany.

The takeover will leave the operator with 5.0 million broadband subscribers, 7.6 million direct TV subscribers and 32.4 million mobile subscribers in Germany.

Kabel Deutschland's shareholders who have not yet accepted the offer can still do that until Sept. 30, Kabel Deutschland said in a news release. The Management Board and Supervisory Board of Kabel Deutschland recommended that shareholders accept Vodafone's offer of €87 per share.

Loek is Amsterdam Correspondent and covers online privacy, intellectual property, open-source and online payment issues for the IDG News Service. Follow him on Twitter at @loekessers or email tips and comments to loek_essers@idg.com

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags Mergers and acquisitionsbusiness issuesVodafone GroupKabel Deutschland

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Loek Essers

IDG News Service
Show Comments

Cool Tech

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Breitling Superocean Heritage Chronographe 44

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?