13th Sep 2013 06:40
LONDON (Alliance News) - Vodafone Group PLC Friday confirmed that it had won the support of over 75% of Kabel Deutschland's shareholders, meaning that its takeover of the German cable company will go ahead.
The company had Monday reminded Kabel Deutschland shareholders that they need to accept the offer by Wednesday after getting a low number of acceptances in the early weeks of its takeover offer. That had raised fears the British wireless operator might fail in its bid to acquire the company.
However, the company Friday said it had achieved the 75% minimum acceptance level required for the offer to proceed to completion. It said it would announce the exact details Monday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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