LONDON (Alliance News) - The EUR7.7 billion takeover of Kabel Deutschland by Vodafone PLC won shareholder approval when votes in favour of the deal passed a crucial 75% hurdle on Thursday night, the Financial Times reports Friday.
The lengthy process of collecting and verifying shareholder votes for the deal meant that there was still uncertainty over whether Vodafone would buy the German cable group even after a Wednesday night deadline.
People with knowledge of the transaction told the paper that shareholder votes were counted throughout Thursday, with the key threshold to approve the deal reached late in the afternoon.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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