Elliott Up In November, With Some Help From Kabel Deutschland

As the year comes to a close, being the hold-out creditor in the Kabel Deutschland Holding AG (ETR:KD8) (OTCMKTS:KBDHF)'s sale to Vodafone Group Plc (ADR) (NASDAQ:VOD) (LON:VOD) might just a big win for Elliott. According to Reuters, the auditor's report on the Kabel Deutschland-Vodafone deal concludes that the British telecom company offered a much lower price for the German company than fair value. The auditor, Constantin GmbH, said in the report that Kabel Deutschland was worth at least 25% more than the 84.53 euros/share offer Vodafone made.

Back in September of 2013, the activist hedge fund chose to keep its holdings in the German cable company when Vodafone Group Plc (ADR) (NASDAQ:VOD) (LON:VOD) bought off Kabel Deutschland's stock from other shareholders. Later...