Vodafone makes approach for German cable company
Vodafone approaches German cable company about takeover bid; may signal move beyond mobile
LONDON (AP) -- Mobile phone company Vodafone has approached Germany's biggest cable operator about a possible takeover.
Vodafone said Wednesday It has had preliminary discussions with Kabel Deutschland, which has more than 8 million customers. However, it said there was "no certainty" that an offer will be made.
The move would signal a move into fixed-line TV and telephone services for the UK-based company.
Ronald Klingebiel, a German telecommunications specialist with Warwick Business School, said acquiring Kabel Deutschland would add to Vodafone's high speed network capacity in Germany.
It would also allow the company to move beyond mobile operations, he said.
Kabel Deutschland shares were up 9.9 percent at 82.11 euros in afternoon Frankfurt trading. Vodafone shares in London were down 1.6 percent at 182 pence.
