Reuters / Neil Hall
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.
Malik Singleton covers manufacturing and other economic news. His previous roles were with City Limits, TIME.com, Black Enterprise and PCMag.com. He is an adjunct at CUNY's...