British mobile operator Vodafone has offered to buyout the remaining minority shareholders of Germany’s largest cable operator, Kabel Deutschland.

It was way back in September 2013, when Vodafone overcame stiff shareholder opposition and finally acquired a majority 77 percent shareholding in Kabel for £6.6 billion.

That deal gave Vodafone in Germany an extra 8.5 million customers, coupled with the necessary infrastructure and networks to offer a so-called “quad-play” service, including mobile phone, home broadband, home telephone and television, all from a single provider.

Shareholder deal

But for seven years Vodafone has been involved in a long-running legal dispute with the minority shareholders of Kabel, including activist shareholder group Elliot Management Corp.

Vodafone last week offered more than 2 billion euros ($2.5 billion) to buy out Kabel’s minority shareholders.

Vodafone said shareholders representing 17.1 percent of the shares had accepted the offer, with Elliott, D.E. Shaw and UBS O’Connor all reportedly accepting the offer and agreeing not to take further legal action against Vodafone.

This deal means that Vodafone will end up owning almost 94 percent of Kabel’s outstanding shares.

However it should be noted the offer is conditional on clearance under German foreign investment legislation.

Tom Jowitt

Tom Jowitt is a leading British tech freelancer and long standing contributor to Silicon UK. He is also a bit of a Lord of the Rings nut...

Recent Posts

Twitter Confirms ‘Super Follow’ Option, For Paid Content

Money maker. Super follow feature coming soon on Twitter, will allow users to receive tips…

1 day ago

Windows 10 ‘Sun Valley’ Promises Major Overhaul

OS refresh. Major update to six year old Windows 10 operating system, dubbed Sun Valley,…

1 day ago

Oxford University Confirms Hack Of Biology Lab Studying Covid-19

NCSC investigates after hackers compromised one of the world’s top biology labs at Oxford University,…

1 day ago

Consumer Group Which? Targets Qualcomm In Legal Action

Legal action against Qualcomm could result in 29 million UK 4G smartphone owners being entitled…

2 days ago

Google To Change Review Process Of Scientist Work

Executives at troubled Google AI research unit say they are working to retain trust, after…

2 days ago

NHS Challenged Over Data Contract With Palantir

Contract between NHS and data mining firm Palantir now at centre of lawsuit filed by…

2 days ago