This time last week, Vodafone confirmed it had made a preliminary approach regarding a possible offer for the company, though Bloomberg had claimed that formal talks between the companies were yet to start because the indicated bid of 80 euros to 82 euros per share was "too low."
However, days after the announcement, U.S. company Liberty Global made a firm offer of 85 euros per share, valuing Kabel Deutschland at 7.5 billion euros, or 6.4 billion pounds.
Bloomberg has now reported that Vodafone has matched Liberty's bid, as the boardrooms take up positions at either end of a tug-of-war with Germany's largest cable operator in the middle.
The plot takes another twist, when you consider that as recently as the beginning of last month, analysts at Citigroup declared that an acquisition of Liberty Global would be within Vodafone's reach, should it sell its 45% stake in Verizon Wireless.
Liberty is also currently negotiating a purchase of Virgin Media, which would instantly offer it a television service in the U.K. should it acquire the U.S. cable and telecoms company...
With neither firms currently commenting on the matter, there is little hard evidence to go on. But following Vodafone's ex-dividend date coming and going last week, combined with continued acquisition talk, the share price has been pushed down to 183 pence from a high of 200 pence less than a month ago.
With many City analysts still recommending Vodafone as a buy -- particularly with the situation over Verizon Wireless yet to be resolved -- then today's price could offer an attractive buying opportunity for those interested in a high-yield stock with potential to grow... Personally, I see more upside in the shares and will continue to hold until I hear further, firm news on the deal.
But if you are looking for alternative investment opportunities in the FTSE 100, then this exclusive wealth report reviews five particularly attractive possibilities. Indeed, all five opportunities offer a mix of robust prospects, illustrious histories, and dependable dividends, and have just been declared by the Fool as "5 Shares You Can Retire On"!
Just click here for the exclusive report -- it's completely free.
Sam Robson owns shares of Vodafone. The Motley Fool recommends Vodafone. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.