Vodafone offers to buy remaining shares in Kabel Deutschland Holding
Mobile phone giant Vodafone has offered to buy the remaining shares it does not already own in German cable firm Kabel Deutschland Holding in a deal worth up to 2.12 billion euros (£1.9 billion).
The group, which bought a 76.8% stake in Germany’s biggest cable firm in 2013, has said it would pay 103 euros (£94) per share.
It comes amid a long-running legal battle over its acquisition of Kabel Deutschland, with minority shareholders recently launching an appeal against a ruling that the price paid in the takeover was “adequate”.
Vodafone said this appeal “is expected to take several years to complete”, but added that investors representing 17% of shares had already accepted the offer and agreed to withdraw from the court appeal.