Vodafone, a British mobile firm is pursuing Kabel Deutschland. This was after announcing its bid offer of US$9.6 billion for Germany's largest cable operator. Sources close to the matter reported on Wednesday.
The world's second largest mobile company has been linked to make a move for Kabel Deutschland. Operating in the European market, Vodafone seeks to meet the increasing customer demands for television, broadband, mobile and fixed line services, otherwise known as "quad-play".
A letter was sent out to Kabel from Vodafone stating its interest and indicating its offered price of Eur81 per share. This was according to sources that were familiar of the matter told Reuters.
Speaking on condition of anonymity, sources said that Kabel sees the proposed bid to be too low.
The shares of Kabel Deutschland have increased over 9% to Eur83 euros. Prior to the announced interest of Vodafone and its proposal bid in February, Kabel trades at Eur63.
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