The Management Board and Supervisory Board of Kabel Deutschland have officially recommended the acceptance of Vodafone’s financial offer for the company.
In a statement KDG said the Boards considered the offer to be in the interest of Kabel Deutschland Holding AG, its shareholders, the workforce and its other stakeholders.
It also considered the €87 per share valuation to be “fair from a financial point of view”.
“The Management Board and Supervisory Board see a lot of potential in the combination with Vodafone and signed a Business Combination Agreement (BCA) prior to the announcement of the tender offer on June 24, 2013. According
to the BCA, Vodafone does not intend to cause operation related redundancies or major location closures for its duration. Kabel Deutschland’s headquarter will also remain in Unterfoehring,” the company said.
It added, the combination is expected to strengthen the market positions of both companies.
