6/12/2013 10:14:09 AM
Vodafone Group confirms Kabel Deutschland talks
Vodafone Group has confirmed it has made an approach to German operator Kabel Deutschland about a potential takeover.
CEO Vittorio Colao has previously spoken of his desire to buy assets to support a push into TV, wireless and media, allowing it to compete with the large European telecoms and media companies. He has said operators need to be given the freedom to take over rivals if they are to stay relevant and competitive.
Kabel Deutschland has a market capitalisation of €6.6bn, and if the deal goes ahead would be Vodafone Group's largest since it began trading in India in 2007.
A spokesperson for the company said a preliminary approach had been made but added: 'There is no certainty that any offer will ultimately be made nor as to the terms on which any such offer might be made.'
Author: Graeme Neill