Vodafone's $10 billion German takeover
Vodafone is set to take over Germany's leading cable operator for $10.1 billion.
Both Vodafone and Kabel Deutschland issued statements saying they were happy with the all-cash deal. The U.K.-based telecom giant is offering 87 euros for each Kabel Deutschland share, for a total of 7.7 billion euros.
This seems to end the short-lived battle between Liberty Global and Vodafone; both companies had been pursuing Kabel Deutschland.
Vodafone says the purchase will allow it to continue growing in the German market and cross-sell Kabel Deutschland TV and broadband services to its existing customers.
Vodafone is one of the world's largest mobile communications companies with a market capitalization of roughly $132 billion.
Kabel Deutschland, which bills itself as Germany's largest cable operator, provides services to over 8.5 million households.
Copyright 2013 by CNN NewSource. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.