Telecoms giant Vodafone has confirmed that it has made a preliminary approach to Kabel Deutschland “regarding a potential offer” for the company.
In a statement, UK-based Vodafone said that there “is no certainty that any offer will ultimately be made, nor as to the terms on which any such offer might be made.”
However, the announcement confirms recent speculation that Vodafone has shown a renewed interest in the German cable operator, after reports linking the two companies first emerged early this year.
Kabel Deutschland, which currently valued at around €7.12 billion (US$9.47 billion), saw its shares climb by around 8% this morning after the market opened, following news of Vodafone’s interest.
In February, Vodafone reportedly put on hold its plan to approach Kabel Deutschland after news of the possible bid was leaked, though reports from earlier this month claimed it was taking a second look at the firm.
In spite of this Vodafone Deutschland last month signed a preliminary contract with Deutsche Telekom that will enable it to deliver services including IPTV over Telekom’s fibre network. The deal will see Vodafone share the investment risk of Telekom’s fibre rollout.
In April, Liberty Global was also reported to have been preparing a bid for the leading German cable operator.
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20 June 2018 @ 12:15:00 UTC