The British telecommunications group Vodafone is taking another step with the takeover of Kabel Deutschland after years of stagnation. Vodafone had reached an agreement with the hedge fund Elliott and the two Kabel Deutschland shareholders DE Shaw and UBS O’Connor LLC to sell their shares, the British telecommunications group announced on Tuesday.

Remaining shares All three hold together 17, 1 percent in Kabel Deutschland. For 103 euros per share, Vodafone can now take over this share and, according to the information, then holds 93, 8 percent. The costs would be 1, 557 billion euros, it said.

If the remaining small shareholders would also accept the offer, Vodafone will, according to the information, put a total of EUR 2 119 billion euros on the table for the purchase of all outstanding shares .

Vodafone announced the takeover of Kabel Deutschland in June 2013 and in spring 2014 completed. At the time, Vodafone had 84, 53 euros per cable -Share offered. In particular, the hedge fund Elliott Management of investor Paul Singer caused a sensation after joining Kabel Deutschland with demands for a higher offer price.

At that time , the hedge fund had acquired 5 percent of the Kabel Deutschland shares. Elliott is known for buying large chunks of shares shortly before or during ongoing takeover proceedings and for driving up the price. In the year 2019 Elliott and Vodafone had already argued in court about a higher price.

(kbe)