9/13/2013 10:10:30 AM
Shareholders approve Vodafone bid for Kabel Deutschland
Vodafone has been given the go-ahead to take over German cable company Kabel Deutschland after its €7.7bn received shareholder approval.
The UK operator announced last night that the required 75% of shareholders in the German business accepted the offer. A list of those who have rejected the bid will be published on Monday.
The deal will diversify Vodafone Group's European business, giving it access to television and cable subscribers across Germany. It recently sold its stake in Verizon Wireless in a $130bn deal. It said last week that it would plunge £6bn into Project Spring, which will accelerate 4G coverage to 90% of its five key European markets by 2017.
Author: Graeme Neill