Kabel Deutschland
 |
|
| Subsidiary | |
| Traded as |
|
| Industry | Telecommunications |
| Founded | 2003 |
|
Key people
|
Manuel Cubero (CEO) |
| Products | Cable television Broadband internet Fixed telephony Mobile telephony |
| Revenue |
 €1.830 billion (2012/13)
|
| Profit |
€0.247 billion (2012/13)
|
| Total assets |
€2.858 billion (2012/13)
|
| Total equity |
(€1.470 billion) (2012/13)
|
|
Number of employees
|
3,157 (average, 2012/13) |
| Parent | Vodafone |
| Website | www.kabeldeutschland.com |
Kabel Deutschland is the largest cable television operator in Germany. Kabel Deutschland was subject to a hostile takeover bid by the British Vodafone Group in September 2013; the deal was approved in December 2013 and finalised on 29 January 2014.
Kabel Deutschland GmbH (KDG), operates in 13 of the 16 States of Germany except Baden-Württemberg, North Rhine-Westphalia and Hesse. In 2006, of the 15.4 million households passed by their cable the company served 9.6 million, however only one third of these are direct customers of Kabel Deutschland, since especially in large apartment complexes the in-house cable networks are owned by cable service companies or housing associations.
Kabel Deutschland was founded in January 1999 by the former German telecom monopoly Deutsche Telekom operating as Deutsche Telekom Kabel Services GmbH (DeTeKS) in order to spin off its entire Cable Television business as required by regulatory terms. The cable network was established from the mid-1980s on by the German federal post office, and predecessor of Deutsche Telekom, Deutsche Bundespost. Kabel Deutschland was split into nine regional companies, of which three were sold to other investors until 2002. The remaining six were sold in 2003 to the US investment firms Providence Equity Partners, Apax Partners and Goldman Sachs Capital Partners. From February 2006 to September 2010, Kabel Deutschland was majority-owned by Providence Equity Partners.
On 24 June 2013, Vodafone announced a takeover bid for Kabel Deutschland valued at €7.7 billion. The board recommended the bid above that of rival Liberty Global. On 23 September the deal was approved by the European Commission, and shortly after Vodafone completed its acquisition of 76.57% of shares in the company.
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Wikipedia