British telecoms firm Vodafone says it has completed its 7.7 billion-euro ($10 billion) takeover of Germany’s biggest cable operator, Kabel Deutschland.<\/p>\n
Vodafone, one of the world’s largest cellphone companies, said in a statement Monday that it now holds just over 76 percent of Kabel Deutschland Holding AG. The acquisition marks a major step for Vodafone in its goal of dominating media services in Europe, its biggest market.<\/p>\n
The British company is awash in cash after U.S. mobile operator Verizon Communications Inc. bought back its 45 percent stake held by Vodafone. The $130 billion buyout deal is one of the largest corporate acquisitions ever.<\/p>\n
Vodafone was attracted by Kabel Deutschland’s extensive cable network in Germany, which the British firm can use to expand its fixed-line, broadband and television business.<\/p>\n
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