|
Vodafone Group PLC on Wednesday said it has initiated the process to acquire sole-ownership of Kabel Deutschland Holding AG. The Berkshire, England-based telecommunications provider said its wholly-owned subsidiary Vodafone Vierte Verwaltungs AG will buy the shares of all KDG minority shareholders, and KDG will be merged into Vodafone KDG. Vodafone said it has agreed to pay minority shareholders €3.17 per Kabel share. Vodafone expects the acquisition to be complete before the end of financial year 2024, which ends March 31, 2024. The company first launched an offer for Kabel Deutschland back in 2013. As of September 30, Vodafone owned just under 94% of KDG’s share capital. Shares in Vodafone were up 0.6% to 89.45 pence each in London on Wednesday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
