UK telecoms giant Vodafone says it will pay 87 euros a share for Germany’s largest cable operator, Kabel Deutschland. The $10.1 billion deal will give Vodafone 32.4 million mobile, 5 million broadband and 7.6 million direct TV customers in Germany. Kabel Deutschland welcomed the offer saying “a future combination with Vodafone promises highly attractive long-term benefits for both companies, their customers, workforces and shareholders.” Vodafone’s move looks set to quash a bid by John Malone’s Liberty Global which had offered about 85 euros per share for the company. Liberty was understood to be structuring an asset offer as opposed to cash to get around competition hurdles since it already owns Germany’s second biggest cable outfit, Unitymedia. JP Morgan analysts said today that Liberty could still make a counter-offer, but noted that its appetite “may be tempered by the significant regulatory risks of such a transaction.”
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