AT&T rules out Vodafone bid in immediate future
Eventual takeover not ruled out

US telecoms provider AT&T has confirmed that it will not make an offer for Vodafone at the request of the UK Takeover Panel. The telco had been linked with a bid for the company after its chief executive said in October that mobile broadband in Europe represented a "huge opportunity" for investment.
In a statement filed today with the UK's Panel on Takeovers and Mergers, AT&T acknowledged that there had been recent speculation regarding a potential deal and that and there had been recent movement in the share price of Vodafone, whose share price slid 7% on the news.
Today's statement means that AT&T cannot make an offer to buy Vodafone for at least six months, unless it is invited to do so by the company or another firm announces an intention to table a bid.
Perfect partner
AT&T is the second-largest mobile operator in the US and some speculation had suggested that a deal in the region of £70 billion and upwards was in the offing. There is some suggestion, however, that the a deal may yet be a possibility at a later date.
Reuters reports that one banker hoping to advise on any future bid believes that Vodafone is the perfect partner for AT&T due to its European-wide presence. It was suggested that AT&T was simply not ready to make an offer, due in part to the recent NSA spying claims that have complicated the matter.
Via: Reuters
Are you a pro? Subscribe to our newsletter
Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed!













Privacy Hero II VPN Router

When I tested this global tracker, it trounced the Apple AirTag in so many ways