Vodafone confirms preliminary approach for Kabel Deutschland

12th Jun 2013 08:58

Mobile telecommunications giant Vodafone Grouphas confirmed a preliminary approach to German cable operator Kabel Deutschland.In an announcement issued early on Wednesday morning, the group said it had noted the recent speculation regarding a potential offer for Kabel Deutschland and confirmed that it had made a preliminary approach to Kabel Deutschland regarding a possible offer for the company."There is no certainty that any offer will ultimately be made nor as to the terms on which any such offer might be made."Bloomberg had reported earlier in the day that the approach was still at an informal stage, though said that Kabel had already indicated that the price Vodafone initially put on the table was too low. Citing people familiar with the matter, the news agency said that talks would start up once Vodafone comes back with a better offer.Vodafone's share price was down 4.84% to 182.70p at 09:03 on Wednesday, after having gone ex-dividend.MF