Kabel Deutschland tender deadline looms for Vodafone
11 September 2013 | Kavit Majithia
Vodafone is reportedly struggling to secure the minimum amount of shares required to finalise its acquisition of Kabel Deutschland.
It has now acquired close to 20%, according to latest reports, meaning it is still some way from the 75% required to be tendered on Wednesday for its €7.7 billion acquisition to go through.
UK-based Vodafone's €84.50-per-share offer for Kabel Deutschland expires at midnight tonight (September 11), but it will fail unless at least three-quarters of the company's shareholders agree to the sale.
Vodafone is pursuing an aggressive strategy across Europe to offer more bundled TV and fixed-line services, and is attempting to offset the effects of its US exit, following the sale of its 45% stake in Verizon Wireless for $130 billion.
Shareholders are often known to wait until the deadline of the tender in case a rival offer emerges, which could explain the reluctance of Kabel Deutschland shareholders at this stage.
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