Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Germany
  4. HANSEATISCHE WERTPAPIERBOERSE HAMBURG
  5. Kabel Deutschland Holding AG
  6. News
  7. Summary
    KD8   DE000KD88880

KABEL DEUTSCHLAND HOLDING AG

(KD8)
  Report
End-of-day quote. End-of-day quote HANSEATISCHE WERTPAPIERBOERSE HAMBURG - 04/21
108 EUR   +0.93%
2020Vodafone to pay up to $2.6 billion to end German legal fight
RE
2020Vodafone to pay up to $2.6 bln to end German legal fight
RE
2020KABEL DEUTSCHLAND HOLDING AG : Ex-dividend day for final dividend
FA
SummaryChartsNewsCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Vodafone to pay up to $2.6 billion to end German legal fight

12/22/2020 | 07:14am EDT
FILE PHOTO: Different types of 4G, 5G and data radio relay antennas for mobile phone networks are pictured on a relay mast operated by Vodafone in Berlin

(Reuters) - Vodafone on Tuesday offered more than 2 billion euros ($2.5 billion) to buy out Kabel Deutschland's minority shareholders and end a long-running legal battle over the cable company with hedge fund Elliott and others.

The British telecoms group, which bought close to a 77% stake in the German cable company in 2013 for 7.7 billion euros, offered all minority shareholders 103 euros in cash for each outstanding share.

Citi analyst Georgios Ierodiaconou said the tender offer was not a surprise and that was a reasonable price and would help to eliminate one of the potential risks to the group.

Vodafone said shareholders representing 17% of the shares had accepted the offer, which valued all remaining minority holdings in KDG at up to 2.12 billion euros.

Elliott, D.E. Shaw and UBS O'Connor have accepted the offer and agreed not to take further legal action against Vodafone, the statement added.

KDG minority shareholders had previously appealed against a 2019 decision by a Munich court that ruled Vodafone's compensation for the 2013 takeover as adequate.

Vodafone, the world's second-largest mobile operator, said its net debt would rise to 46.1 billion euros if all shares were tendered. Shares in the FTSE 100 firm were down 1% by 1210 GMT.

The group on Monday ended talks with the Saudi Telecom Company over the $2.4 billion sale of its shareholding in Vodafone Egypt, reaffirming its commitment to the country.

Vodafone is spinning out its mobile network towers to take advantage of investor appetite for infrastructure assets, which offer a long-term secured income stream. It will use the proceeds to reduce its debt.

Last month, Vodafone hiked its earnings outlook after a resilient first half, despite a hit to roaming revenue from coronavirus-led travel curbs.

($1 = 0.8173 euros)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Patrick Graham and Keith Weir)

By Yadarisa Shabong


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
FTSE 100 0.62% 6938.24 Delayed Quote.6.73%
KABEL DEUTSCHLAND HOLDING AG 0.93% 108 End-of-day quote.2.86%
MSCI UNITED KINGDOM (STRD, UHD) 0.40% 1122.492 Real-time Quote.8.44%
S&P UNITED KINGDOM (PDS) 0.56% 1377.09 Delayed Quote.6.37%
SAUDI TELECOM COMPANY 0.16% 124.4 End-of-day quote.17.36%
UBS GROUP AG -0.57% 13.975 Delayed Quote.12.71%
VODAFONE GROUP PLC 0.95% 134.1 Delayed Quote.9.84%
All news about KABEL DEUTSCHLAND HOLDING AG
2020Vodafone to pay up to $2.6 billion to end German legal fight
RE
2020Vodafone to pay up to $2.6 bln to end German legal fight
RE
2020KABEL DEUTSCHLAND HOLDING AG : Ex-dividend day for final dividend
FA
2019KABEL DEUTSCHLAND HOLDING AG : Ex-dividend day for final dividend
FA
More news
Financials
Sales 2020 2 545 M 3 061 M 3 061 M
Net income 2020 410 M 494 M 494 M
Net Debt 2020 3 003 M 3 611 M 3 611 M
P/E ratio 2020 21,6x
Yield 2020 -
Capitalization 9 560 M 11 487 M 11 498 M
EV / Sales 2019 4,61x
EV / Sales 2020 4,66x
Nbr of Employees 3 182
Free-Float 100%
Chart KABEL DEUTSCHLAND HOLDING AG
Duration : Period :
Kabel Deutschland Holding AG Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers and Directors
NameTitle
Andreas Laukenmann Chief Executive Officer
Anna Dimitrova Chief Financial Officer
Hermann Melnikov Chairman-Supervisory Board
Irena Gruhne Vice Chairman-Supervisory Board
Christoph Clément Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
KABEL DEUTSCHLAND HOLDING AG2.86%11 505
WALT DISNEY COMPANY (THE)1.07%331 812
COMCAST CORPORATION4.30%248 088
VIACOMCBS INC.9.64%26 563
THE LIBERTY SIRIUSXM GROUP6.32%15 632
FORMULA ONE GROUP10.92%10 509