Operator’s UK arm would be taken over by AT&T if speculated deal goes through
US operators AT&T and Verizon Communications are looking at a possible buy-out of Vodafone, the FT has reported.
Last week rumours surfaced that Verizon Communications (VC) was looking to buy Vodafone out of its US joint venture, Verizon Wireless, which the UK firm owns 45 per cent of.
However, this morning’s FT reported AT&T and Verizon were discussing a joint bid for the UK operator which would see its share of Verizon taken by VC and its non-US assets taken by rival US operator AT&T.
On the back of the speculation shares in Vodafone had risen by 5.76 per cent by 3.30pm, to reach their highest price since mid-August last year.
Vodafone refused to comment on the reports.