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
Shares of Volkswagen AG declined around 3 percent in the morning trading, after the German automotive giant reported Tuesday lower profit and revenues in its first quarter, mainly reflecting weak passenger car volumes and negative currency impacts. Further, the company reiterated its outlook for fiscal 2016, expecting a decline in revenues. For Coca-Cola, patriotism is the new way for marketing and minting profit. The beverage giant joined with United Service Organizations Inc. or USO to bring out limited-edition patriotic Coca-Cola cans at the Memorial Day weekend to honor U.S. Service Members. The Coca-Cola cans are available at convenience stores now through July 4th. The holiday throng seeking to take a flight out to their preferred destinations at the at New York's Kennedy International Airport ahead of the Memorial Day holiday were in for a rude shock. Technology played a spoilsport, as a computer system broke down Sunday evening at a terminal, causing flight delays and cancellations that resulted in manual check-in process for thousands of holiday passeng
comments powered by Disqus
Follow RTT