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Germany: Vodafone announces $10B buyout, details emerge

 |  June 24, 2013

Two of Europe’s largest cable companies announced Monday plans for a $10 billion buyout. Reports say Vodafone will acquire Germany-based Kabel Deutschland to strengthen its stance in the television and fixed-line telecommunications markets. Sources say the price was upped after Liberty Global approached Kabel Deutschland with its own bid, but that it will not likely top Vodafone’s offer. Vodafone, the globe’s second-largest mobile telecom operator, is looking to adapt to changing regulators of the market throughout Europe. Additional reports say Germany’s antitrust regulator, the Federal Cartel Office, will likely review the case instead of the European Commission, as the deal largely affects the German market. Linklaters will be advising Vodafone on the deal, while Hengeler Mueller will advise Kabel Deutschland.

Full Content: Reuters

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