Monday, June 24, 2013

Vodafone Bids EUR 7.7 Billion to Acquire Kabel Deutschland

Vodafone launched a bid to acquire all shares in Kabel Deutschland Holding AG in a deal valued at EUR 7.7 billion.

The offer values Kabel Deutschland at EUR 87 per share, representing an increase of 37 percent on the last share price before takeover speculation emerged.

The companies said a merger would strengthen the market position of Kabel Deutschland and the range of services it offers. Within Vodafone Group, Kabel Deutschland would remain a separate legal entity with its headquarters in Unterfoehring (near Munich).

Kabel Deutschland (KD), Germany’s largest cable operator, offers its customers digital, high definition (HD) and analog TV, Pay TV and DVR offerings, Video on Demand, broadband Internet (up to 100 Mbit/s) and fixed-line Phone services via cable as well as mobile services in cooperation with an industry partner. The company operates cable networks in 13 German federal states and supplies its services to approximately 8.5 million connected households. As per end of fiscal year 2012/13, Kabel Deutschland had approximately 3,600 employees. In the fiscal year 2012/13 (12 months ended March 31, 2013), the Company reported revenues of EUR 1,830 million and an Adjusted EBITDA of EUR 862 million.

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