FRANKFURT, June 10 (Reuters) - A German court has handed avictory to hedge fund Elliott in an ongoing battle about theprice Vodafone paid for Kabel Deutschland by orderinganother audit of the value of the Germany's largest cable group.
Vodafone secured just over three quarters of shares in KabelDeutschland with a 84.50 euro ($95.51) per share, or 7.7 billioneuro, takeover offer in 2013 as it was seeking to expand itsoffering of television and fixed-line services in Germany.
But U.S. hedge fund Elliott, which holds 14.4 percent ofKabel Deutschland shares, filed a legal suit in 2014 demandinghigher compensation for minority shareholders in a squeeze-out.
The Munich regional court on Thursday called for a new auditon the value of Kabel Deutschland and on whether KabelDeutschland managers violated their duties and German law beforeand after the takeover.
Vodafone said it had no immediate comment.($1 = 0.8847 euros) (Reporting by Arno Schuetze and Joern Poltz; Writing by HarroTen Wolde; Editing by Victoria Bryan)
Vodafone (VOD)
