Vodafone Group Plc Wins Backing For Kabel Deutschland Bid

Shares in Vodafone (LSE: VOD) (NASDAQ: VOD.US) remained stable in early trade, following the announcement that the telecoms company has won enough support from Kabel Deutschland shareholders for its takeover.

In a statement released this morning, Vodafone confirmed that the 75% minimum acceptance condition has been met, following fears that the deal might collapse if an improved offer was not lodged.

As such, Vodafone will publish a final announcement with the definitive tender ratio on 16 September 2013.

For those Kabel Deutschland shareholders who did not tender their shares, an additional acceptance period will be open on 17 September and end on 30 September 2013.

Following last week’s conclusion to the ‘will they, won’t they’ sale of Verizon Wireless, this deal was widely seen as crucial for Vodafone — there were whispers around the City that if it didn’t gain the required backing, then the British telecoms company could be eyed up for a takeover itself.

For now, though, the company is laying out its plans to become a one-stop shop for mobile, broadband and television, and I’m happy to play the waiting game while collecting its FTSE-beating dividends.

Until then, I’d rather use my 'dry powder' to buy shares in this company, touted by our analysts as "The Motley Fool’s Top Growth Stock Today".

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