<p>Vodafone on Tuesday offered more than 2 billion euros ($2.5 billion) to buy out Kabel Deutschland's minority shareholders and end a long-running legal battle over the cable company with hedge fund Elliott and others.</p>.<p>The British telecoms group, which bought close to a 77% stake in the German cable company in 2013 for 7.7 billion euros, offered all minority shareholders 103 euros in cash for each outstanding share.</p>.<p>Citi analyst Georgios Ierodiaconou said the tender offer was not a surprise and that was a reasonable price and would help to eliminate one of the potential risks to the group.</p>.<p>Vodafone said shareholders representing 17% of the shares had accepted the offer, which valued all remaining minority holdings in KDG at up to 2.12 billion euros.</p>.<p>Elliott, D.E. Shaw and UBS O'Connor have accepted the offer and agreed not to take further legal action against Vodafone, the statement added.</p>.<p>KDG minority shareholders had previously appealed against a 2019 decision by a Munich court that ruled Vodafone's compensation for the 2013 takeover as adequate.</p>.<p>Vodafone, the world's second-largest mobile operator, said its net debt would rise to 46.1 billion euros if all shares were tendered. Shares in the FTSE 100 firm were down 1% by 1210 GMT.</p>.<p>The group on Monday ended talks with the Saudi Telecom Company over the $2.4 billion sale of its shareholding in Vodafone Egypt, reaffirming its commitment to the country.</p>.<p>Vodafone is spinning out its mobile network towers to take advantage of investor appetite for infrastructure assets, which offer a long-term secured income stream. It will use the proceeds to reduce its debt.</p>.<p>Last month, Vodafone hiked its earnings outlook after a resilient first half, despite a hit to roaming revenue from coronavirus-led travel curbs.</p>
<p>Vodafone on Tuesday offered more than 2 billion euros ($2.5 billion) to buy out Kabel Deutschland's minority shareholders and end a long-running legal battle over the cable company with hedge fund Elliott and others.</p>.<p>The British telecoms group, which bought close to a 77% stake in the German cable company in 2013 for 7.7 billion euros, offered all minority shareholders 103 euros in cash for each outstanding share.</p>.<p>Citi analyst Georgios Ierodiaconou said the tender offer was not a surprise and that was a reasonable price and would help to eliminate one of the potential risks to the group.</p>.<p>Vodafone said shareholders representing 17% of the shares had accepted the offer, which valued all remaining minority holdings in KDG at up to 2.12 billion euros.</p>.<p>Elliott, D.E. Shaw and UBS O'Connor have accepted the offer and agreed not to take further legal action against Vodafone, the statement added.</p>.<p>KDG minority shareholders had previously appealed against a 2019 decision by a Munich court that ruled Vodafone's compensation for the 2013 takeover as adequate.</p>.<p>Vodafone, the world's second-largest mobile operator, said its net debt would rise to 46.1 billion euros if all shares were tendered. Shares in the FTSE 100 firm were down 1% by 1210 GMT.</p>.<p>The group on Monday ended talks with the Saudi Telecom Company over the $2.4 billion sale of its shareholding in Vodafone Egypt, reaffirming its commitment to the country.</p>.<p>Vodafone is spinning out its mobile network towers to take advantage of investor appetite for infrastructure assets, which offer a long-term secured income stream. It will use the proceeds to reduce its debt.</p>.<p>Last month, Vodafone hiked its earnings outlook after a resilient first half, despite a hit to roaming revenue from coronavirus-led travel curbs.</p>