odafone suspends plan to approach Kabel Deutschland: Report
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FRANKFURT: Vodafone Group Plc has suspended plans to approach KabelDeutschland Holding AG about a takeover bid, Bloomberg cited three people familiar with the matter as saying.
Vodafone had initially planned to contact Kabel Deutschland after the German cable company's earnings report last week, but media reports of a potential offer have complicated internal discussions, the newswire said on Wednesday.
Vodafone may still decide to make a bid at some point, it cited two of the sources as saying.
No-one at Vodafone could immediately be reached for comment. Kabel Deutschland declined comment.
Kabel Deutschland shares were indicated 6 percent lower in premarket trades, according to data from brokerage Lang & Schwarz.
A source with direct knowledge of the matter told Reuters last week that Vodafone hired Goldman Sachs to advise on a possible 10 billion euro ($13 billion) bid for Kabel Deutschland, Germany's biggest cable operator.
Vodafone had initially planned to contact Kabel Deutschland after the German cable company's earnings report last week, but media reports of a potential offer have complicated internal discussions, the newswire said on Wednesday.
Vodafone may still decide to make a bid at some point, it cited two of the sources as saying.
No-one at Vodafone could immediately be reached for comment. Kabel Deutschland declined comment.
Kabel Deutschland shares were indicated 6 percent lower in premarket trades, according to data from brokerage Lang & Schwarz.
A source with direct knowledge of the matter told Reuters last week that Vodafone hired Goldman Sachs to advise on a possible 10 billion euro ($13 billion) bid for Kabel Deutschland, Germany's biggest cable operator.
ALOK KUMAR
PGDM II SEM
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