Vodafone Group Plc (ADR) (NASDAQ:VOD) In Talks With Germany's Biggest Cable Company For Potential $13 Billion Acquisition
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.
© Copyright IBTimes 2024. All rights reserved.
-
IMF Says Global Debt Levels Face 'Great Election Year' Risk
-
Divisions Among Colombia's FARC Dissidents Complicate Peace Talks
-
French Far Right Gets Youthful Vibe With 28-year-old Leader
-
US Fed's Powell Says Inflation Fight May Take 'Longer Than Expected'
-
Mideast-related Oil Price Spike Threatens 'Relatively Good' Economic Outlook: IMF Chief Economist
-
Wine Growers 'On Tip Of Africa' Race To Adapt To Climate Change
-
Despite Olympic Truce, Games Wrestle With Political Fallout
-
What Will The Fed Do With The Latest Inflation Numbers?
-
US Retail Sales Up More Than Expected In March
-
Alexandre De Moraes: Brazil Judge In Feud With Elon Musk
