Vodafone confirms Kabel Deutschland approach

<p>Vodafone is bidding for Kabel Deutschland.</p>

British mobile operator Vodafone has confirmed it is in talks with Kabel Deutschland over a possible takeover bid.

The firm revealed it wants to buy Germany's top cable television company, but insisted no offer has yet been lodged.

In a statement, Vodafone said: "There is no certainty that any offer will ultimately be made, nor as to the terms on which any such offer might be made."

Kabel Deutschland supplies 8.5 million German households and speculation within the markets today (June 12th) suggests any bid for the firm could be worth as much as £8.5 billion. Vodafone has more than 407 million customers around the world.

On the back of the news it is considering a takeover bid for the German company, the share price of Vodafone took a dip in today's trading.

At 15:48 BST, its stocks were down by more than five per cent on the start of the day and were selling for 181.90, a decrease of over ten points for the session.

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