It is finally official… pretty much.
In a story some football fans will feel resembles this summer’s interminable Gareth Bale transfer saga, Vodafone, the British telecoms giant, has paid $7.7 billion for 76.57 percent of Kabel Deutschland’s share capital, making it a much stronger rival to Deutsche Telekom.
All that remains now apparently is a “domination and profit and loss transfer agreement” – but reportedly this is pretty much a regional formality.
The takeover of the cable operator (Germany’s largest) will allow Vodafone to offer high-speed broadband without having to pay Deutsche Telekom. Concurrently, it will give Vodafone a stronger position in terms of IPTV.
Kabel Deutschland chairman (and former BSkyB CEO) Tony Ball is expected to resign today