Vodafone offers $2.6 billion to end German legal fight

(Reuters) – Vodafone Group (LON:VOD) on Tuesday offered to buy the remaining shares in Kabel Deutschland Holding, which it does not already own, in a deal aimed at capping remaining risks from a long-running legal battle over its 2013 takeover of the company.

The British firm, which bought a nearly 77% stake in the German cable company in 2013 for 7.7 billion euros, said it would offer all minority shareholders of KDG 103 euros in cash for each outstanding share.

Vodafone said shareholders representing 17% of shares had accepted the offer, which valued all remaining minority holdings in Germany’s largest cable company at up to 2.12 billion euros ($2.59 billion)

($1 = 0.8183 euros)