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May 27, 2017

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AT&T denies it is planning takeover bid for UK's Vodafone despite rumors

LONDON--U.S. telecoms giant AT&T said on Monday that it was not planning to launch an offer for British mobile phone group Vodafone following fresh rumors of a mega bid.

British media reports over the weekend said AT&T was looking into offering about #60 billion (US$99 billion, 72 billion euros) for Vodafone following similar market speculation last year.

But in a brief statement issued to the London Stock Market on Monday, AT&T said "that it does not intend to make an offer for Vodafone."

Vodafone, the world's second-largest mobile operator by subscribers after China Mobile, agreed last year to sell its U.S. joint-venture stake to partner Verizon for US$130 billion in one of the biggest transactions in global corporate history.

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