Voda seals its Kabel buyout

Oliver Smith
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VODAFONE’S takeover of Kabel Deutschland was completed yesterday, with the FTSE 100-listed telecom company left holding 76.57 per cent of Kabel’s share capital.

The deal, valued at €7.7bn (£6.5bn), hinged on Kabel Deutschland shareholders tendering 75 per cent of their shares for Vodafone to buy at €87 a share, a threshold that was narrowly passed last month.

In July Vodafone said Kabel gives it “significant potential to accelerate growth... by cross-selling to each company’s customer base”.