Vodafone has agreed a deal for the takeover of Kabel Deutschland subject to full terms and conditions.
The move will see the operator take 76.57% of the German company’s share capital as of this morning (Monday 14 October). Yesterday it was revealed that the two organisations had agreed a €7.7 billion fee.
Vodafone sold its share in Verizon Wireless last month for $130 billion, and the operator has started reinvesting some of that revenue into its European operations. The purchase will see Vodafone Group add cable television subscribers to its customer base, while a £6 billion outlay in Project Spring preceded the acquisition, increasing the network’s 4G coverage in its 5 key European markets to 90% by 2017.
