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Vodafone Group Plc May Make Formal Kabel Deutschland Holding AG Offer Within Days-DJ

Friday, 14 Jun 2013 09:55am EDT 

Dow Jones reported that Vodafone Group Plc may make a formal offer for Germany's biggest cable operator Kabel Deutschland Holding AG within days, valuing the Company at more than EUR10 billion ($13.3 billion), as it seeks to boost its German operations, two people familiar with the matter said. Kabel Deutschland rejected Vodafone's informal approach as too low, but would be willing to open the books if the U.K.-based mobile company offered about EUR85 a share, a third person familiar with the matter said. This would value the Company at above EUR10.6 billion including debt. Vodafone's previous offer is said to have been around EUR80 a share, excluding an announced dividend of EUR2.50, another person said. Vodafone could raise its preliminary bid and make an official offer within the next few days, as it awaits feedback from Kabel Deutschland, one of the two people said. Vodafone declined to comment on whether it is preparing to make a bid for Kabel Deutschland. Kabel Deutschland declined to comment. 

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