(Bloomberg) -- Vodafone Group Plc has offered the remaining minority shareholders in Kabel Deutschland Holding AG as much as 2.1 billion euros ($2.6 billion) to tender their shares, about seven years after it agreed to buy the German telecommunications company.

Vodafone will give the remaining minority investors, including Elliott Management Corp., 103 euros for each share, the company said in a statement on Tuesday. Following the offer, Vodafone will own at least 94% of KDG’s outstanding shares.

At the time of the original offer, Vodafone had managed to acquire about 77% of KDG, but was blocked from buying the rest by existing shareholders -- Elliott had recently become the German company’s biggest shareholder and argued for more. Vodafone struck an agreement that allowed it to continue to integrate the two companies, but also required it to pay compensation to the investors who hadn’t tendered.

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Subject to the agreement, Vodafone was paying minority shareholders 3.17 euros per share annually in cash and had agreed to buy them out at 84.53 euros per share, with the offer price increasing every year, it said in Tuesday’s statement. Vodafone has received irrevocable undertakings from holdouts with about 17% of KDG including shares by DE Shaw, Elliott and UBS Group AG, it said.

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