Vodafone launches Kabel takeover offer

Suzie Neuwirth

TELECOMS company Vodafone today said it has formally launched a takeover offer for German cable company Kabel Deutschland, after beating European cable giant Liberty Global in a bidding war last month.

The British firm has offered €84.50 (£73) per Kabel share in cash, plus the payment of the proposed €2.50 dividend announced by the cableco in February, equating to a total value of €87.00 per share.

Kabel shareholders can tender their shares from today until 11 September.

Goldman Sachs and UBS are advising Vodafone on the transaction.