Kabel Deutschland shareholders have voted in favour of selling the company to Vodafone.
The €7.7 billion deal is part of Vodafone's strategy to counter declining mobile revenues by selling quadruple play services.
Vodafone is the largest mobile network in Germany with 32 million subscribers. Kabel Deutschland has 7.6 million cable subscribers.
Vodafone said that the required minimum of 75 percent of Kabel shareholders had voted to accept its €87 per share offer, which includes a €2.50 dividend payment.
The deal still has to be approved by regulators.
The acquisition illustrates the maturation of the mobile business as a driver of industry growth in Europe, and one of the strategies leading service providers will employ to maintain revenue growth. When organic growth is not possible, service providers turn to acquisitions.
Friday, September 13, 2013
Kabel Deutschland Shareholders Vote to Sell to Vodafone
Gary Kim has been a digital infra analyst and journalist for more than 30 years, covering the business impact of technology, pre- and post-internet. He sees a similar evolution coming with AI. General-purpose technologies do not come along very often, but when they do, they change life, economies and industries.
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