Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Verizon Denies Report Of Bid Plan For Vodafone

RELATED NEWS
Trade VZ now with 

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.

Click here to receive FREE breaking news email alerts for Verizon Communications and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
After initially showing a lack of direction, stocks have moved mostly higher over the course of the trading session on Wednesday. Buying interest has remained somewhat subdued, however, limiting the upside for the markets. Businessman David Perdue narrowly defeated eleven-term Congressman Jack Kingston, R-Ga., in a runoff for the Republican Senate nomination in Georgia on Tuesday. With all precincts reporting, unofficial results show Perdue with a slim 50.9 percent to 49.1 percent lead over Kingston. Bank of England Governor Mark Carney said on Wednesday that interest rate will have to start rising to maintain price stability as the economy normalizes. "As the economy normalizes, Bank Rate will need to start to rise in order to achieve the inflation target," Carney said in a speech in Glasgow, Scotland.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.