je.st
news
AT&T denies plans for Vodafone bid
2014-01-27 08:53:00| Telecompaper Headlines
(Telecompaper) AT&T has issued a formal statement denying any plans to launch a takeover bid for Vodafone Group. AT&T said it made the statement at the request of the UK Takeover Panel, which had asked for clarification after numerous media reports that AT&T was considering expanding in Europe through Vodafone. The sale of Vodafone's stake in US operator Verizon Wireless would ease the way for an AT&T deal, removing any competition problems in the US and giving Vodafone a significant cash for further investment. Under the UK Takeover Code, AT&T would now be restricted from making an offer for Vodafone within the next six months. However, the company noted that it reserves the right to launch a bid or participate in a joint offer within six months under the exceptions allowed under the code, such as Vodafone agreeing to such a bid or an offer from a third party emerging.
Tags: plans
bid
att
vodafone
Category:Telecommunications