Vodafone confirmed its intention to acquire Kabel Deutschland in a transaction delivering Kabel Deutschland shareholders EUR87 per share in cash, valuing the entire fully diluted ordinary share capital of Kabel Deutschland at EUR7.7B. The Transaction will be implemented as a voluntary public tender offer by a wholly-owned subsidiary of Vodafone for EUR84.50 per share in cash plus the payment of the EUR2.50 dividend announced by Kabel Deutschland on February 20. The Management and Supervisory Boards of Kabel Deutschland welcome the transaction and subject to their review of the formal offer intend to recommend Kabel Deutschland shareholders accept the offer, and the Management Board members intend to accept the offer in respect of their entire beneficial shareholdings, Vodafone said. Following completion of the transaction, Vodafone will have 32.4M mobile, 5.0M broadband and 7.6M direct TV customers in Germany and sees significant potential to accelerate the growth in Vodafone’s and Kabel Deutschland’s broadband, telephony and TV businesses, the company said.
- Investment & Company Information
- Kabel Deutschland