Vodafone offers $2.6 bln to end German legal fight
22/12/2020 07:41
Dec 22 (Reuters) - Vodafone Group VOD.L on Tuesday offered
to buy the remaining shares in Kabel Deutschland Holding
KD8Gn.H , which it does not already own, in a deal aimed at
capping remaining risks from a long-running legal battle over
its 2013 takeover of the company.
The British firm, which bought a nearly 77% stake in the
German cable company in 2013 for 7.7 billion euros, said it
would offer all minority shareholders of KDG 103 euros in cash
for each outstanding share.
Vodafone said shareholders representing 17% of shares had
accepted the offer, which valued all remaining minority holdings
in Germany's largest cable company at up to 2.12 billion euros
($2.59 billion)
($1 = 0.8183 euros)
(Reporting by Yadarisa Shabong in Bengaluru)
((Yadarisa.Shabong@thomsonreuters.com; Twitter: https://twitter.com/Yadarisa;
+919742735150;))