Vodafone Group Plc (ADR) (NASDAQ:VOD) In Talks With Germany's Biggest Cable Company For Potential $13 Billion Acquisition

 @MalikFromLA
on June 12 2013 9:06 AM
  • Kabel Deutschland
    An office of Kabel Deutschland Reuters
  • RTR35CVR
    Vodaphone Chief Executive Vittorio Colao speaks at the Global Investment Conference 2012 in London July 26, 2012. Reuters / Neil Hall
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British mobile telecom company Vodafone Group Plc (ADR) (Nasdaq:VOD) on Wednesday said it is in talks to purchase Germany's biggest cable company, Kabel Deutschland Holding AG (ETR:KD8), for upwards of 10 billion euro ($13.3 billion).

The potential deal would be Vodafone's largest since 2007 and would bring the mobile phone operator, which also owns 45 percent of Verizon Wireless, into a broader media market.

"[Vodafone] confirms that it has made a preliminary approach to KD regarding a possible offer," the company told Reuters.

An acquisition of Kabel Deutschland would help Vodafone compete against cable providers that, conversely, aim to increase their cellphone services.

In May, Vodafone struck a deal with Deutsche Telekom to enable it to offer pay-TV over high-speed broadband to its customers.

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