Vodafone may fail to reach the 75 percent threshold of acceptances from shareholders needed to clinch Germany’s largest cable operator Kabel Deutschland, the Financial Times said on Monday.<\/p>\n
“Some of Kabel Deutschland’s shareholders believe that the amount of tenders offered will fall well short of this goal,” the paper said, citing anonymous shareholders.<\/p>\n
Vodafone agreed a 7.7 billion euro ($10.13 billion) offer for Kabel Deutschland in June, a near 40 percent premium to Kabel’s share price before its interest first emerged.<\/p>\n
Vodafone urged shareholders on Monday to accept the offer, saying in a statement that it would lapse if the 75 percent minimum acceptance threshold was not met by Wednesday.<\/p>\n
It said Germany’s Federal Cartel Office had confirmed it would not request a referral from Europe on the deal.<\/p>\n
It also said the European Commission was expected to complete a Phase I review of the offer by September 20.<\/p>\n
($1 = 0.7600 euros)<\/p>\n
Vodafone agrees to $10 billion Kabel deal<\/a><\/strong><\/p>\n