AT&T Mulling Takeover Bid for Vodafone
Published on: 1st Sep 2013
Note -- this news article is more than a year old.
By: Ian Mansfield
As Vodafone nears the likely sale of its 45% stake in Verizon Wireless the company could itself become a takeover bid.
USA based AT&T is known to be looking for overseas acquisitions, and is reported to be eyeing a possible takeover bid for Vodafone once it sells the US assets. AT&T is understood to have mulled a bid for Vodafone in the past, but was put off due to the complexity of dealing with the Verizon stake.
Citing people familiar with the latest discussions, Bloomberg News reported that AT&T would only be interested in Vodafone for its wireless assets, and would not consider a bid in the future if Vodafone continues its acquisition of landline assets in Europe.
Vodafone is expected to spend some of its estimated USD130 billion windfall on expanding its European footprint.
"Were somebody to buy Vodafone, AT&T would be the primary candidate," said James Barford, a telecommunications analyst at Enders Analysis in London.
AT&T was recently also said to be eying a possible bid for UK based EE, but the vastly larger bid for Vodafone is thought to be financially possible for the US company.
On the web: Bloomberg News