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Wednesday, 19 June 2013 09:13

Vodafone raises bid for Kabel

Written by Nick Farrell

Bidding war hots up

The UK’s Vodafone has raised its preliminary offer to buy Germany's largest cable operator, Kabel Deutschland.

The move follows a rival bid from US media group Liberty Global, Bloomberg reported that Vodafone told Kabel Deutschland this week that it would be willing to pay 85 euros a share compared with its initial offer of 80 euros to 82 euros for the German company.

Vodafone is looking at Kabel Duetschland's books before making an official offer, Bloomberg said. Liberty Global, owns Unity Media which is Germany's second biggest cable operator. It made an 85 euro a share offer days after the British mobile company said it was in talks about a deal.

Vodafone's revised offer matches the Liberty Global bid valuing Kabel Deutschland at 7.5 billion euros ($10.04 billion). It is less likely to upset regulators.

Nick Farrell

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