AT&T Still Considering a Takeover Bid for Vodafone
Published on: 30th Jan 2014
Note -- this news article is more than a year old.
By: Ian Mansfield
Although it has publicly ruled out a bid in the short term USA based AT T is reportedly still mulling a potential bid for Vodafone Group.
AT&T issued a statement earlier this week that it was not planning a takeover bid for the company. It was required to issue the statement by the London Stock Exchange, whose rules also conditionally forbid launching a takeover within six months of issuing a denial.
However, citing people familiar with the matter, Bloomberg News said that AT&T is still weighing up such a takeover bid.
Although it is officially locked out of launching a hostile bid within six months, AT&T can still talk to Vodafone, and they could launch a friendly takeover or merger -- or AT&T could participate as a junior partner in a hostile bid lead by another company.
Bids of this nature tend to take months to arrange anyway, so even if AT&T is barred from bidding, it could still comfortably spend the next six months preparing the finances and legal options ready for when the deadline expires.
Put the 27th July 2014 in your calendars.
On the web: Bloomberg News