Vodafone halts plan to buy German firm

VODAFONE has put on hold a move to acquire German cable operator Kabel Deutschland.

The company had been considering a bid, potentially valued at around £9bn as it attempts to improve its operations outside of its core mobile business, but has put things on ice following leaks related to a possible deal.

It is understood that a deal was never a certainty, and that Kabel Deutschland had not been approached by the FTSE 100 firm. A deal in the future remains possible.

Earlier this week, Vodafone boss Vittorio Colao refused to be drawn on questions about a bid, but did outline plans to improve the firm’s position in delivering broadband and pay-TV services. Vodafone shares rose yesterday on the news while Kabel Deutschland’s slumped.

The companies did not comment.