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Tuesday, February 19, 2013

Vodafone hires bank for possible German cable bid, (NYSE: MS)

Vodafone moved closer to a possible 10 billion-euro bid for German cable operator Kabel Deutschland by hiring long-time banker Goldman Sachs to advise on options, a person with direct knowledge of the matter told Reuters on Tuesday.Kabel Deutschland, Germany's biggest cable company, has retained Morgan Stanley and advisory firm Perella Weinberg to defend its interests in the event of a Vodafone approach, a second person with direct knowledge said.An acquisition would transform the German telecoms market, which has been one of the more resilient in a European sector plagued by deflation in prices and tough competition.It would also be Vodafone's biggest deal since it entered India in 2007 and mark a change in strategy for the group that has long has owned largely mobile operations in continental Europe and relied on renting broadband lines from competitors.

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.04% or $0.01/share to $23.88. In the past year, the shares have traded as low as $12.26 and as high as $23.94. On average, 20520400 shares of MS exchange hands on a given day and today's volume is recorded at 798622.