In a move that characterizes an explicit change in focus for Vodafone, the mobile operator has initiated its bid to acquire German cable firm Kabel Deutschland.
Kabel, which has over eight million customers in Germany, while confirming the receipt of an offer, refused to divulge anything on the matter.Kabel , in a statement said, “There is no certainty that any offer will ultimately be made nor as to the terms on which any such offer might be made.”
The Financial Times estimates the deal t be worth €7bn. However, there is a possibility in the increase in the price tag.If materialized, the acquisition would be one of the largest made by Vodafone in recent times. The deal would be crucial for Vodafone because it would give the mobile operator much-needed new revenue streams given the fact that European mobile market is nearing maturity.
