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Vodafone to pay up to $2.6 bln to end German legal fight

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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.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.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.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.

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