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Vodafone completes Kabel Deutschland acquisition

The mobile operator pays out £6.6bn for Germany's largest cable company

Vodafone today completed its acquisition of Kabel Deutschland for £6.6bn.

Kabel is the largest cable operator in Germany, offering phone, TV and broadband services to 8.5m households across the country.

It became the subject of a bidding war between Vodafone and rival US company Liberty Global - the firm that bought Virgin Media in the UK.

However, Vodafone prevailed and its German division now holds 76.57% of Kabel's share capital.   

Buying Kabel has brought Vodafone's mobile customer base up to 32.4 million.

In September, Vodafone confirmed it had sold of its stake in US firm Verizon Wireless for $130bn to focus on its European operations.

 

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