Vodafone Raises Kabel Deutschland Offer After Rival Bid: Report

Britain’s Vodafone Group Plc has raised its preliminary offer to buy Germany’s largest cable operator, Kabel Deutschland Holding AG, a day after U.S. media group Liberty Global Plc made a rival bid, Bloomberg reported on Tuesday, citing people familiar with the bid.

Bloomberg reported that Vodafone told Kabel Deutschland this week that it would be willing to pay 85 euros a share compared with its initial offer of 80 euros to 82 euros for the German company.

Vodafone is said to be studying Kabel Duetschland’s books before making an official offer, Bloomberg said.

Liberty Global, which owns Unity Media, Germany’s second biggest cable operator, made an 85 euro a share offer days after the British mobile company said it was in talks about a deal.

Vodafone’s revised offer matches the Liberty Global bid valuing Kabel Deutschland at 7.5 billion euros ($10.04 billion).

Source : Reuters