Vodafone bids for German cable TV company
June 13 , 2013
Vodafone has placed a takeover bid for Germany's top cable television company.
The British mobile operator confirmed its offer for Kabel Deutschland in a statement released on Wednesday.
Market analysts estimate the bid is worth $13.3 billion.
According to media reports, talks between the two parties have not yet begun as Kabel Deutschland, which provides its services to around 8.5 million German households, views the price offered by Vodafone as too low.
The move marks a change in strategy for Vodafone, which in the past has primarily focused on mobile phone services.
Vodafone is one of the world's biggest mobile phone companies, boasting more than 407 million customers across the globe.