Rivals Verizon (VZ), AT&T (T) Might Join Forces in Vodafone (VOD) Bid
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Vodafone (Nasdaq: VOD) is trading strong early Tuesday following reports that it might be close to being acquired.
According to the Financial Times, Verizon Communications (NYSE: VZ) and AT&T (NYSE: T) might make a 260 pence per share bid for Vodafone, valuing the company at $245 billion. In the deal, Verizon would acquire Vodafone's U.S. operations, while AT&T would take up the assets outside of the U.S.
The duo agreed to a joint bid as it reduces overall risk amid the massive deal and it would be more likely to pass regulatory muster.
Verizon and Vodafone were rumored earlier in 2013 to be considering a range of options as Verizon looked to gain full control of U.S. assets. AT&T has also been looking outside the U.S. for other growth opportunities.
Vodafone is the world's second-largest carrier behind China Mobile (NYSE: CHL) with about 403 million subs.
Vodafone, Verizon, and AT&T are all in positive territory.
According to the Financial Times, Verizon Communications (NYSE: VZ) and AT&T (NYSE: T) might make a 260 pence per share bid for Vodafone, valuing the company at $245 billion. In the deal, Verizon would acquire Vodafone's U.S. operations, while AT&T would take up the assets outside of the U.S.
The duo agreed to a joint bid as it reduces overall risk amid the massive deal and it would be more likely to pass regulatory muster.
Verizon and Vodafone were rumored earlier in 2013 to be considering a range of options as Verizon looked to gain full control of U.S. assets. AT&T has also been looking outside the U.S. for other growth opportunities.
Vodafone is the world's second-largest carrier behind China Mobile (NYSE: CHL) with about 403 million subs.
Vodafone, Verizon, and AT&T are all in positive territory.
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