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Verizon, AT&T plan joint takeover bid for Vodafone - report
2013-04-02 11:24:00| Telecompaper Headlines
(Telecompaper) US operators Verizon and AT&T are putting together a takeover bid for Vodafone, the Financial Times' Alphaville blog reports, citing unnamed people familiar with the matter. The bid would offer an around 40 percent premium to Vodafone's current share price, or about 260 pence per share. This would value Vodafone at about USD 245 billion, making it one of the biggest takeovers ever. Barclays US has been tasked with putting together the potential transaction, the report said. Under the proposal, Verizon would buy Vodafone's 45 percent stake in their Verizon Wireless joint venture, while AT&T takes over Vodafone's non-US assets. All the companies declined to comment. The proposed takeover would resolve Verizon's long-held desire to take full control of its mobile operations, while AT&T would gain a new growth market, to help offset slowing growth in the US market, where its takeover attempts have faced regulatory obstacles.
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Category:Telecommunications