On Air Now

Tune in to Listen

99.9 FM Hibbing, MN

Weather

Current Conditions(Hibbing,MN 55746)

More Weather »
42° Feels Like: 37°
Wind: NNW 8 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

AM Showers 54°

Tonight

Clear 28°

Tomorrow

Sunny 58°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

Vodafone says takeover offer for Kabel Deutschland succeeds

A surveillance camera is pictured in front of the headquarters of Vodafone Germany in Duesseldorf September 12, 2013. REUTERS/Ina Fassbender
A surveillance camera is pictured in front of the headquarters of Vodafone Germany in Duesseldorf September 12, 2013. REUTERS/Ina Fassbender

FRANKFURT (Reuters) - Vodafone said it has secured the 75 percent of shares in Kabel Deutschland needed for its 7.7 billion-euro ($10 billion) offer for Germany's largest cable company to succeed.

"The 75 percent minimum acceptance condition has been met," Vodafone said in a statement on Thursday, adding that it would publish the definitive tender ratio on September 16.

Vodafone's 87.00 euro per share offer, which includes a 2.50 euro dividend payment, for Kabel Deutschland ended on September 11.

The British company, which earlier this month agreed the sale of its stake in U.S. operator Verizon Wireless for $130 billion, wants to buy Kabel Deutschland to offer more television and fixed-line services in Germany, its largest European mobile market.

(Reporting by Jonathan Gould; Editing by Anthony Barker)

Comments