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Verizon Denies Report Of Bid Plan For Vodafone

Responding to recent media speculation, Verizon Communications Inc. (VZ) said in a regulatory filing Tuesday afternoon that it does not currently have any intention to merge with or make an offer for British mobile phone company Vodafone Group Plc (VOD,VOD.L), whether alone or in conjunction with others.

However, Verizon reiterated in the filing that it would be a willing purchaser of the 45% stake that Vodafone holds in the Verizon Wireless joint venture.

Vodafone shares surged earlier Tuesday following a report by The Financial Times' Alphaville blog that Verizon was working with its U.S. rival AT&T, Inc. (T) on a potential bid for London-based Vodafone.

Vodafone shares rose as much as 6.2% before closing the day up 2.89% at 192 pence in London. In U.S. trading Vodafone shares closed Tuesday's regular trading session at $29.41, up $1.07 or 3.76%, but lost 2.91% in after hours trading. Verizon shares closed the day's regular trading session at $49.50, up 28 cents, but lost 0.40% in after hours trading. AT&T shares closed Tuesdat at $37.57, up 32 cents, but lost 0.32% in extended hour trading.

by RTTNews Staff Writer

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