Vodafone's $10 billion German takeover

June 24, 2013: 7:09 AM ET
vodafone telecom store
Vodafone is paying a total of 7.7 billion euros to buy Germany's Kabel Deutschland.
LONDON (CNNMoney)

Vodafone is set to take over Germany's leading cable operator for $10.1 billion.

Both Vodafone (VOD) and Kabel Deutschland issued statements saying they were happy with the all-cash deal. The U.K.-based telecom giant is offering 87 euros for each Kabel Deutschland share, for a total of 7.7 billion euros.

This seems to end the short-lived battle between Liberty Global (LBTYA) and Vodafone; both companies had been pursuing Kabel Deutschland.

Vodafone says the purchase will allow it to continue growing in the German market and cross-sell Kabel Deutschland TV and broadband services to its existing customers.

Vodafone is one of the world's largest mobile communications companies with a market capitalization of roughly $132 billion.

Kabel Deutschland, which bills itself as Germany's largest cable operator, provides services to over 8.5 million households.

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