Vodafone poised to grab German cable company

BERLIN (AP) Britain's Vodafone PLC says it is poised to seal the 7.7 billion euro ($10.23 billion) takeover of Kabel Deutschland, after it won the backing of the German cable operator's shareholders.

The London-based cellphone giant said in a statement late Thursday that "the 75 percent minimum acceptance condition has been met" and that it expects to close the deal by the end of the month.

Kabel Deutschland has an extensive cable network in Germany that Vodafone could use to expand its fixed-line, broadband and television business in the country.

European regulators still need to approve the takeover.

This story has been automatically published from the Associated Press wire which uses US spellings

© Copyright 2014, APN New Zealand Limited

Assembled by: (static) on production bpcf04 at 22 Dec 2014 10:09:48 Processing Time: 324ms