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Vodaphone takeover of Kabel Deutschland set to go ahead

Vodaphone takeover of Kabel Deutschland set to go ahead
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The British phone operator Vodafone has confirmed it has secured enough shares in German cable company Kabel Deutschland for its takeover offer to succeed.

It needed a 75 percent take up by investors.

Vodafone, which is the world’s second-largest mobile operator, is spending 7.7 billion euros on Kabel Deutschland.

The purchase means it will be able to offer more television and fixed-line services in Germany, its largest European mobile market.

It is part of the move to so-called “quad-play”, which is less common in Germany, where companies offer TV, broadband, mobile and fixed-line services.

With consumers wanting to watch TV and video on an array of devices, cable assets have become more attractive as they can provide internet services at speeds often five times faster than competing services from traditional telecom companies.

Vodafone is trying to boost earnings in its core market of Europe, where increasing regulation and recession have hit revenue and forced it to write down the value of its assets.