Verizon denies joint plans with AT&T to bid for Vodafone in €200bn mega merger

3 Apr 2013

US telecoms player Verizon has blasted speculation that it plans to co-operate with AT&T in a bid to buy UK telecoms giant Vodafone in a transaction rumoured to be worth in excess of €200bn.

The Financial Times had initially reported that Verizon was looking at working with AT&T as part of a €200bn bid that would see Verizon get back its 45pc stake in Verizon Wireless while AT&T would take over the rest of the company.

However, while Verizon has denied plans to work with AT&T, it would still like to get back the 45pc stake that Vodafone holds in the company.

AT&T has so far not commented on the matter and it is hard to see the US-centric telecoms giant pursue a global expansion.

“As Verizon has said many times, it would be a willing purchaser of the 45pc stake that Vodafone holds in Verizon Wireless,” the company said in a statement.

“It does not, however, currently have any intention to merge with or make an offer for Vodafone, whether alone or in conjunction with others.”

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years