Vodafone has secured close to 20% of shares in Kabel Deutschland, meaning it needs more than 55% to be tendered today for its €7.7 billion offer for Germany's largest cable company to succeed.
Including the shares already tendered, Vodafone and investors acting with it held 17.6 million shares in Kabel Deutschland at 3.30pm yesterday, the British company said in a statement.
Vodafone's €84.50-per-share offer for Kabel Deutschland runs out at midnight, but it will lapse if holders of less than three quarters of the German company's shares agree to sell.
