Vodafone's buying Germany's biggest cable operator, Kabel Deutschland for some ten billion dollars. It's a clear signal to the markets that it's on the acquisition trail.

Analysts say the deal could be a good one for Vodafone which could quickly use its position to offer multiple services such as TV and broadband in Germany which has a relatively fragmented market.

The moves comes after months of speculation about the future of Kabel Deutschland. Vodafone's offer represents a sizeable premium on the company's stock price from when talks were first mooted.