Germany's Kabel Deutschland Boosts Quarterly Revenue
Kabel Deutschland, Germany's leading cable operator, had a strong third quarter with revenues up 5.8 percent to $660 million (€491 million) in the three months that ended June 30.
Over the same period, the group, controlled by mobile phone giant Vodafone, added another 83,000 customers. In total, Kabel Deutschland serves some 8.3 million people across Germany.
Vodafone acquired Kabel Deutschland for $10.4 billion last year, outbidding John Malone's Liberty Global for the Teutonic giant. Since early May of this year, Kabel Deutschland and Vodafone have been marketing their products under the joint brand Zuhause Plus, offering cable TV, Internet and mobile services.
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It seems to be working. Kabel Deutschland's quarterly growth figures more than compensated for the decline in Vodafone's comparatively tiny Internet business in Germany, which saw a 3.2 percent drop in revenue.