September 13, 2013 08.23 Europe/London By Julian Clover
Shareholders in Kabel Deutschland (KDG) have accepted Vodafone’s offer to acquire the company.
The German cablenet confirmed late Thursday that the 75% minimum acceptance condition for the €11 billion takeover had been achieved.
The deal remains subject to antitrust approval.
A further two weeks acceptance period now clicks in for shareholders that have not yet accepted the offer, running until September 30, 2013.
As of Tuesday only 14% of shareholders had given their approval, leading to fears the deal may have fallen through.
Last Friday, activist investor Paul E Singer from hedge fund Elliott Asset Management doubled his stake to 10.9%, seeking improved terms from Vodafone.