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Kabel Deutschland Board Backs $10 Billion Takeover by Vodafone

Kabel Deutschland Holding AG’s board advised shareholders to accept Vodafone Group Plc’s 7.7 billion-euro ($10.2 billion) offer, clearing the way for the third-largest European telecommunications deal this year.

The 87-euro-per-share price, which includes a 2.50 euro dividend payment, is “fair from a financial point of view” and the deal will strengthen both companies, Kabel Deutschland’s supervisory and management boards said today in a statement.