• Saturday, April 13, 2024
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Verizon denies AT&T joint bid for Vodafone


Verizon Communications has said that it is not considering a takeover of Vodafone with or without AT&T, reports Bloomberg. In a statement Verizon reiterated its interest in Vodafone’s 45 per cent stake in the Verizon Wireless US joint venture but said it doesn’t currently have any intention “to merge with or make an offer for Vodafone, whether alone or in conjunction with others”. The Financial Times’ Alphaville blog recently cited “usually reliable people” as saying that Verizon and AT&T were working on a breakup bid for Vodafone with a potential offer of $245 billion for the UK-headquartered operator, a 40 per cent premium on its share price and M&A record. The scenario would see Verizon gain full ownership of Verizon Wireless and AT&T acquire Vodafone’s European assets.