AT&T pours cold water on Vodafone takeover speculation

27 Jan 2014

US telecoms giant AT&T Inc has ruled out an imminent bid for UK-based Vodafone Group, following a weekend of intense speculation. In a statement to the stock exchange, AT&T confirmed: ‘AT&T Inc notes the recent speculation regarding a potential transaction involving Vodafone Group. At the request of the UK Takeover Panel, AT&T confirms that it does not intend to make an offer for Vodafone.’ Further, the US telco has said that it is bound by rule 2.8 of the Takeover Code, which says that unless there is a material change – such as a bid by someone else – then a company that rules out an offer cannot make a new approach within a six month timeframe.

Widespread speculation over AT&T’s intentions emerged over the weekend, following reports that AT&T CEO Randall Stephenson made an initial approach to Vodafone representatives at the World Economic Forum in Davos, Switzerland, before sounding out EU telecoms commissioner Neelie Kroes regarding the feasibility of such a transaction. According to reports, AT&T was putting together a deal worth GBP60 billion (USD98.9 billion) for the international telecoms group.

United Kingdom, AT&T Inc., Vodafone Group,

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share