Vodafone is set to
complete a 7.7bn-euro (£6.6bn; $10bn) takeover of Kabel Deutschland after
securing the backing of the German cable operator's shareholders.
The mobile phone
giant said 75% of shareholders had agreed to the deal, the minimum amount it
needed before buying Kabel.
Vodafone expects
to finalise the takeover by the end of the month.
However, EU
regulators still need to give it their approval.
The acquisition
would mark a change in strategy for Vodafone, which has largely focused on
mobile phone services in Europe.
Vodafone is making
its first foray into consumer broadband and television, tapping into the
so-called "quad-play" market in Germany, which is growing, but still
lagging behind France and Spain.
No comments:
Post a Comment