Reuters: Hot Stocks: UPDATE 1-Vodafone plans to buy Kabel Deutschland - magazine

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UPDATE 1-Vodafone plans to buy Kabel Deutschland - magazine Feb 13th 2013, 12:37 Wed Feb 13, 2013 7:37am EST * Vodafone group managers reviewing German plan - magazine * Kabel Deutschland market capitalisation 5.6 bln euros * Kabel shares jump 13 pct, Vodafone's down 1.7 percent (Adds comment, background, updates shares) FRANKFURT, Feb 13 (Reuters) - Vodafone's German unit is planning to buy Kabel Deutschland, Germany's Manager Magazin reported on Wednesday. The head of Vodafone's German operations has proposed a plan to buy the German cable operator to the group's top management, the magazine said without citing sources. Kabel Deutschland shares were up 13.1 percent at 71.70 euros at 1156 GMT. Trading volumes in Kabel Deutschland shares were almost four times as high as their 90-day average. Based on Tuesday's closing price of 63.60 euros, Kabel Deutschland has a market capitalisation of 5.6 billion euros ($7.5 billion), according to Thomson Reuters data. Vodafone and Kabel Deutschland declined to comment. Vodafone has looked at Kabel Deutschland several times in the past, a person familiar with Vodafone's strategy said. Analysts in recent months have suggested Vodafone should be buying fixed lines assets in major European markets such as Spain, Germany and the Netherlands. Germany's cable market, which was once one of Europe's most fragmented, still has a proliferation of smaller regional players offering television and broadband services. Private equity firms and companies such as Unitymedia - owned by Liberty Global - and Kabel Deutschland, have restructured the market by buying up smaller companies to create more efficient larger players. ($1 = 0.7427 euros) (Reporting by Harro ten Wolde, Peter Maushagen, Philipp Halstrick and Leila Abboud; Editing by Louise Ireland) Link this Share this Digg this Email Reprints

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