Vodafone launches Kabel bid

Vodafone officially launched its takeover of German cable firm Kabel Deutschland yesterday after getting the go-ahead from its target’s home regulators to publish details of the €7.7bn (£6.7bn) bid. Kabel’s shareholders have until 11 September to make a decision on the offer, which is worth €87 per share, and which the board has said it will recommend. As of yesterday, Vodafone has taken a 4.2 per cent stake in the company.