AT&T says it has no Vodafone acquisition plans

DALLAS (AP) — AT&T says it does not intend to make an offer soon for British cellphone company Vodafone.

The announcement by the largest U.S. telecommunications company means it is restricted from initiating a bid on Vodafone in the next six months, according to British takeover rules. But the Dallas company can respond to an offer initiated by Vodafone, or it can make a bid in response to an offer from another company.

AT&T Inc. says it made the announcement at the request of a United Kingdom Takeover Panel, and it cites recent speculation about a possible Vodafone deal. Last year, Vodafone agreed to sell its 45 percent stake in AT&T competitor Verizon Communications Inc. to Verizon for $130 billion.

U.S.-traded shares of Vodafone Group PLC fell 2.7 percent to $37.01 in morning trading Monday. AT&T rose 7 cents to $33.49.

Related Headlines

  • Verizon posts $5.07B profit for 4Q

    Verizon posted fourth-quarter net income of $5.07 billion, boosted by continued growth in the number of phones and tablets connected to its network. The largest U.S. 

  • Europe's telecom tie-ups signal big shakeup

    After focusing for years on becoming wireless services, Europe's telecom companies are having a renewed love affair with cables. In what some industry observers are calling ... 

  • Larry Page

    Google aims to provide broadband in 34 more cities

    Google wants to offer ultra-fast Internet service in 34 more cities scattered across eight states in the company's boldest challenge to cable and telecommunications providers. 

  • Israeli start-up seeks to end roaming charges

    An Israeli startup is trying to combat a common fear for international travelers: getting socked with hundreds or thousands of dollars in unexpected roaming charges for using ... 

Find the best rates

Find your future job here