Kabel Deutschland board formally recommends Vodafone offer
FRANKFURT (Reuters) - The supervisory and management boards of Kabel Deutschland have formally recommended a 7.7 billion euro ($10.2 billion) bid from Vodafone, they said in a statement on Friday.
"The management and supervisory boards believe the value of 87 euros per share is fair from a financial viewpoint," they said.
Vodafone in June agreed to buy Germany's largest cable operator to help defend against mounting competition in its most important market.
(Reporting by Victoria Bryan)
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