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Vodafone-Kabel deal approved, U.K. chief leaving for Rogers

  • In spite of hedge fund opposition, Vodafone (VOD +0.7%) says 75% of Kabel Deutschland shares have been voted in favor of the mobile's carrier's €87/share offer  for the German cable provider, clearing the way for the deal to close.
  • Altogether, Vodafone is paying €10.7B ($14.2B) for Kabel (€7.7B in cash + $3B in assumed debt). The Verizon Wireless windfall should make the purchase pretty easy to digest. Vodafone has said the deal will grow the size of its German revenue base to €11.5B/year ($15.3B/year).
  • Separately, Vodafone U.K. CEO Guy Laurence is leaving to become the CEO of Canadian carrier Rogers (RCI -1.4%). U.K. enterprise exec Jeroen Hoencamp will replace Laurence.
  • Rogers' hiring of Laurence comes 7 months after the company' current CEO, Nadir Mohamed, announced plans to retire in Jan. '14. Laurence will take over the top job on Dec. 2.
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