Thursday, April 4, 2013

Verizon denies rumors over Vodafone Group purchase

U.S. mobile carrier Verizon Communications said it has no intention to merge or take, alone or in combination, the British group Vodafone, after Financial Times wrote, citing various sources, that Verizon and AT & T are working on a bid for the British telecom operator.

Verizon however remains interested in the 45% holding owned by Vodafone in the joint venture Verizon Wireless, the largest U.S. mobile operator, says CNBC.

Thus the company's statement rejects an article published on the blog Financial Times, in which unidentified sources claimed that the main rivals in the U.S., Verizon and AT&T are currently working on making an offer for Vodafone. According to the allegations, Verizon would allegedly take over the U.S. assets of the British group while AT&T any other operation. Vodafone Group is valued at 245 billion dollars.

"Any other option unless a fusion is not acceptable for Vodafone, which considers the wireless segment of the U.S. telecom market more attractive than the European one," said Robin Bienenstock, analyst at Bernstein.

Speculation about a possible transaction between Verizon and Vodafone have intensified since January, as the British group examines possible options for its U.S. assets, which represent about 75% of its value.
According to analysts, the 45% stake held by Vodafone in Verizon Wireless is estimated at about 115 billion dollars.


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