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UK/Germany: Vodafone asks Kabel Deutschland shareholders to pass $10B buyout

By  |  September 9, 2013

Anonymous shareholders for major mobile network operator Vodafone told reporters Monday that the company may fail to reach the 75 percent clearance from Germany’s Kabel Deutschland shareholders needed to go through with the buyout of the cable company, worth about $10.1 billion. The company is now urging shareholders to clear the deal by Wednesday.

Should the buyout fail, Vodafone, which recently agreed to sell its stake in Verizon Wireless back to Verizon Communications for $130 billion, Vodafone will remain a renter of Kabel Telekom’s fixed lines, rather than owning the network.

Vodafone is looking to expand its television services in Germany through the acquisition.

Last Friday, Vodafone had reportedly only secured 11.86 percent of Kabel Deutschland shareholders’’ votes.

Full Content: Chicago Tribune

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