Vodafone faces a bidding war with the US telecommunications firm Liberty Global for Kabel Deutschland, after the Liberty Global made a rival offer for the German cable firm.
Written by Chris White
Liberty Global which owns Virgin Media, confirmed that it had made a preliminary offer but refused to comment on its size however market analysts have put the figure in the margin of between £6 and £7 billion. Last week’s Vodafone bid is thought to be in the range of £6 billion.
Liberty Global’s bid to acquire Kabel Deutschland would if successful place more pressure on Vodafone to issue higher initial offers in future takeovers. However, a successful bid by Vodaphone would ensure the telecoms giant’s transformation from a specialiser in European mobile phone networks to a large scale telecommunications provider.
Global Liberty’s latest move is part of the strategy of its billionaire new director John Malone who is determined to expand the company’s presence in Europe.
Liberty Global bought out the UK cable operator Virgin Media for US$23.3 billion / £14.85 billion last February.
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