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Vodafone Group reportedly reaches deal with German cable firm

June 23, 2013|By Alejandro Lazo
  • Vodafone Group has sweetened its offer for Kabel Deutschland to $10.1 billion. Above, a Vodafone store in Berlin.
Vodafone Group has sweetened its offer for Kabel Deutschland to $10.1 billion.… (Bloomberg News )

Communications giant Vodafone Group of Britain has reportedly upped its price for Germany’s largest cable company after Liberty Global Inc. of Colorado showed interest.

Vodafone, which also owns a sizable stake in Verizon Wireless in the U.S., has reportedly reached a preliminary, $10.1-billion agreement with Kabel Deutschland Holding, Bloomberg News reported Sunday, citing anonymous sources. Reuters, citing two anonymous sources, reported that Vodafone would make the all-cash offer public Monday.

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Vodafone had previously contacted Kabel Deutschland about a deal earlier this month, according to news reports. But John Malone’s Liberty Global had also showed interest in the company, according to a statement posted on Kabel Deutschland’s website this month.

Vodafone will offer 87 euros a share, up from a reported 80 euros a share.

Vodafone owns 45% of Verizon Wireless, a joint venture between that company and Verizon Communications.  If the reported deal were to close, it would give Vodafone access to Europe’s biggest telecommunications market and potential customers for combined land-line, mobile and TV subscriptions.

Representatives for Vodafone, Kabel Deutschland and Liberty Global could not immediately be reached for comment Sunday.

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