Vodafone gets a green light for Kabel Deutschland takeover deal
AFPLONDON--Shareholders of German cable operator Kabel Deutschland on Thursday gave the go-ahead for a 7.7-billion-euro (US$10 billion) takeover by Vodafone after clearing the 75 percent acceptance hurdle, both companies announced.
September 14, 2013, 12:01 am TWN
“Vodafone announces ... that the 75 percent minimum acceptance condition has been met,” the British company said in a statement.
As a pre-requisite of the deal, proposed in July, Vodafone needed to secure at least 75 percent of shares to succeed.
Vodafone added it would publish the final proportion of shares offered on Sept. 16.
Kabel Deutschland also confirmed the shareholders' decision in a statement issued Thursday.
The deal still needs to receive regulatory approval from the European Commission, which is due to complete a first review on Sept. 20.