Vodafone completes buyout of German cable operator

Oct 14, 2013

British telecoms firm Vodafone says it has completed its 7.7 billion-euro ($10 billion) takeover of Germany's biggest cable operator, Kabel Deutschland.

Vodafone, one of the world's largest cellphone companies, said in a statement Monday that it now holds just over 76 percent of Kabel Deutschland Holding AG. The acquisition marks a major step for Vodafone in its goal of dominating media services in Europe, its biggest market.

The British company is awash in cash after U.S. mobile operator Verizon Communications Inc. bought back its 45 percent stake held by Vodafone. The $130 billion buyout deal is one of the largest corporate acquisitions ever.

Vodafone was attracted by Kabel Deutschland's extensive network in Germany, which the British firm can use to expand its fixed-line, broadband and television business.

Explore further: Millions without mobile phone service in Argentina

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Vodafone launches bid for Kabel Deutschland

Jun 24, 2013

Britain's Vodafone PLC has launched a takeover bid for Germany's biggest cable operator, Kabel Deutschland, as part of its push to dominate media services in its biggest market.

Verizon reclaims US wireless stake for $130B

Sep 02, 2013

Verizon will own its wireless business outright after agreeing Monday to pay $130 billion for the 45 percent stake in Verizon Wireless owned by British cellphone carrier Vodafone.

Recommended for you

Britain's BT in talks to buy mobile operator EE

Dec 15, 2014

BT Group PLC said Monday it is in exclusive talks to buy mobile phone operator EE from Germany's Deutsche Telekom and France's Orange for 12.5 billion pounds ($20 billion) in cash and shares.

Re-imagining the network

Dec 12, 2014

Communication networks are evolving to keep pace with increasing consumer needs and business demands. We've already experienced the progressive jumps from 1G to 4G wireless networks and 5G is looming in the not-too-distant ...

High-speed Internet on its way to more schools

Dec 11, 2014

The Federal Communications Commission agreed Thursday to dramatically boost spending to bring high-speed Internet access to schools and libraries in poor or rural areas, a move that would likely increase Americans' phone ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.