The Financial Times reported that Vodafone may not be able to acquire Kabel Deutschland. The paper said Vodafone may not get at least 75% of the vote from Kabel shareholders necessary to clinch the deal. The Financial Times quoted shareholders who did not wish to be named who said, "Some of Kabel Deutschland's shareholders believe that the amount of tenders offered will fall well short of this goal."
In June, Vodafone had agreed to buy Germany's largest cable operator for EUR 7.7 billion or GBP 6.47 billion. The offer was nearly 40% in premium to the share price of Kabel before Vodafone expressed its interest to buy the company.
On Monday, Vodafone encouraged shareholders to say yes to their offer. Vodafone also said that if it would not get the needed 75% minimum threshold of acceptance from the shareholders by Wednesday, its acquisition offer would lapse. Vodafone added that the Phase 1 review of its acquisition offer would most likely be completed by the European Commission by September 20.
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