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Verizon Denies Report Of Bid Plan For Vodafone

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Responding to recent media speculation, Verizon Communications Inc. (VZ: Quote) 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: Quote,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: Quote) 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.

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by RTT Staff Writer

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