logo
Share SHARE
FONT-SIZE Plus   Neg

Verizon Denies Report Of Bid Plan For Vodafone

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Gas explosion in Fresno in California injured 11 people on Friday afternoon. Pacific Gas and Electric Co. (PG&E) said workers who are not affiliated with the company have struck a 12-inch natural gas transmission pipeline and the gas leaked was ignited due to the dig-in. Verizon Communications' FiOS TV service has modified its programming bundles and will now offer new packages so that users can subscribe only for channels they prefer to watch. Instagram, the photo sharing app owned by Facebook, has updated its community guidelines to disallow nudity and harassment in uploaded photos and pictures, as well as cyber bullying.
comments powered by Disqus
RELATED NEWS
Trade VZ now with 
Follow RTT