Liberty enters race for Kabel Deutschland
June 18, 2013
Liberty Global has entered the bidding for Kabel Deutschland potentially tabling a €7.5 billion offer to top Vodafone’s bid last week. The FT reports that Liberty has made a bid of about €85 a share.
KDG confirmed that it had “a preliminary proposal” from Liberty. Liberty said the KDG’s statement was accurate but declined to comment further.
While Vodafone’s offer price was not officially disclosed, it is said to be about €80 a share. KDG had already indicated that Vodafone would need to up its bid to “a significant premium” to its market value, which rose nine per cent to €82 per share, on the back of the initial approach.