- 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.
Vodafone-Kabel deal approved, U.K. chief leaving for Rogers
Sep 12 2013, 14:55 ET