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Hedge Fund Elliott Clings to Kabel Stock in Vodafone Buyout

BusinessWeek – Kabel Deutschland Holding AG (KD8) shareholder Elliott Management Corp. is holding out as Vodafone Group Plc (VOD) attempts to convince investors to cash out so it can complete its takeover of the German cable company.

Elliott hasn’t reduced its 11 percent holding since September, when investors were asked to tender their Kabel Deutschland shares to Vodafone, the German company said at a shareholder meeting in Munich today. The hedge fund may be betting it can force a higher price from Vodafone using that strategy, a person familiar with the takeover offer said last month.

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