Vodafone may fail to clinch Kabel Deutschland: paper

Vodafone may fail to reach the 75 percent threshold of acceptances from shareholders needed to clinch Germany’s largest cable operator Kabel Deutschland, the Financial Times said on Monday.

“Some of Kabel Deutschland’s [Unterfoehring, Germany] shareholders believe that the amount of tenders offered will fall well short of this goal,” the paper said, citing anonymous shareholders.

Vodafone (Newbury, UK) agreed a 7.7 billion euro ($10.13 billion) offer for Kabel Deutschland in June, a near 40 percent premium to Kabel’s share price before its interest first emerged.

Vodafone may fail to reach the 75 percent threshold of acceptances from shareholders needed to clinch Germany’s largest cable operator Kabel Deutschland, the Financial Times said on Monday.

“Some of Kabel Deutschland’s [Unterfoehring, Germany] shareholders believe that the amount of tenders offered will fall well short of this goal,” the paper said, citing anonymous shareholders.

Vodafone (Newbury, UK) agreed a 7.7 billion euro ($10.13 billion) offer for Kabel Deutschland in June, a near 40 percent premium to Kabel’s share price before its interest first emerged.

Vodafone urged shareholders on Monday to accept the offer, saying in a statement that it would lapse if the 75 percent minimum acceptance threshold was not met by Wednesday.

It said Germany’s Federal Cartel Office had confirmed it would not request a referral from Europe on the deal.

It also said the European Commission was expected to complete a Phase I review of the offer by September 20.

($1 = 0.7600 euros)

(Reporting by Edward Taylor and Paul Sandle; editing by Tom Pfeiffer)