AT&T (T) Has No Plans to Bid for Vodafone (VOD) - Statement
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Price: $16.45 +0.86%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 6.5%
Revenue Growth %: +1.4%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 6.5%
Revenue Growth %: +1.4%
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AT&T (NYSE: T) said it does not intend to make an offer for Vodafone (NYSE: VOD) amid recent speculation the telecom giant would acquire the company following Vodafone's sale of its stake in Verizon Wireless to Verizon (NYSE: VZ).
The statement from AT&T follows a request from the UK Takeover Panel.
"At the request of the UK Takeover Panel, AT&T confirms that it does not intend to make an offer for Vodafone," AT&T said. "Accordingly, AT&T is bound by the restrictions under Rule 2.8 of the UK Takeover Code (the "Code")."
"For the purposes of Rule 2.8 of the Code, AT&T reserves the right to announce or participate in an offer or possible offer for Vodafone and/or to take any other action which would otherwise be restricted under Rule 2.8 of the Code within 6 months after the date of this announcement in the circumstances described in note 2 to Rule 2.8 of the Code."
The statement from AT&T follows a request from the UK Takeover Panel.
"At the request of the UK Takeover Panel, AT&T confirms that it does not intend to make an offer for Vodafone," AT&T said. "Accordingly, AT&T is bound by the restrictions under Rule 2.8 of the UK Takeover Code (the "Code")."
"For the purposes of Rule 2.8 of the Code, AT&T reserves the right to announce or participate in an offer or possible offer for Vodafone and/or to take any other action which would otherwise be restricted under Rule 2.8 of the Code within 6 months after the date of this announcement in the circumstances described in note 2 to Rule 2.8 of the Code."
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