Vodafone remains tight lipped over reports the board of Kabel Deutschland, Germany’s biggest cableco, has turned down its initial offer.
The carrier has issued no fresh statements since confirming last week that it has approached the board of Kabel Deutschland to discuss a potential acquisition. While Vodafone stated no terms had been discussed, it is widely reported the firm pitched an offer that would value the cableco at up to €7.5 billion.
Now, though, it seems Vodafone may have to dig deeper, with Reuters reporting Kabel Deutschland chiefs have already rejected the suggested price. The knock back means Vodafone is likely to offer at least €10 billion in a formal bid, which could be made in the coming days, the Wall St. Journal reports.