Vodafone opens talks with Germany's Kabel Deutschland

Vodafone shop in central London London  - Arab Today British mobile phone giant Vodafone said on Wednesday it had made a preliminary approach to Kabel Deutschland over a possible offer for the firm, Germany's biggest cable operator. "Vodafone Group Plc notes the recent speculation regarding a potential offer for Kabel Deutschland Holding AG and confirms that it has made a preliminary approach to KD regarding a possible offer for the company," the British group said in a short statement.
"There is no certainty that any offer will ultimately be made nor as to the terms on which any such offer might be made," Vodafone added.
In reaction, Vodafone shares slumped 5.20 percent to 182 pence in London, while in Frankfurt Kabel Deutschland surged 6.92 percent to 79.90 euros in early deals.