logo
Share SHARE
FONT-SIZE Plus   Neg

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
United Parcel Service, Inc. has started to test the use of drones to make commercial deliveries of packages to remote or difficult-to-access locations. On Thursday, the package delivery giant and drone-maker CyPhy Works staged a mock delivery of urgently needed medicine from Beverly, Massachusetts to Children's Island, which is about three miles off the Atlantic coast. Luxury electric car maker Tesla Motors Inc. (TSLA), Thursday filed a lawsuit against state officials over its right to sell vehicles directly to consumers in Michigan. The lawsuit has been filed against Governor Rick Snyder, Secretary of State Ruth Johnson and Attorney General Bill Schuette as defendants. Tesla... e.l.f. Beauty (ELF), a maker of cosmetic products, priced its initial public offering above its target range and raised about $141 million. The Oakland-based company opened sharply up on Thursday's trading on the New York Stock Exchange. The company said it sold about 8.3 million shares at $17 in...
comments powered by Disqus
Follow RTT