There was a news story circulating the tech world today suggesting that both Verizon and AT&T were working together on an agreement that would split up Vodafone. Verizon would take back the 45% stake in US relations that Vodafone has in Big Red’s company while AT&T would take control of non-U.S. action. The deal would give AT&T a big boost in achieving a foothold in other markets. After the transaction Vodafone at $245 billion. It was confirmed by “usually reliable people” and would be complex to complete. However Verizon took to the internet to squash this rumor. They were quoted to say:
“Verizon Communications Inc. (“ Verizon ”) notes the recent press speculation regarding a potential merger with or purchase by Verizon of Vodafone. As Verizon has said many times, it would be a willing purchaser of the 45% stake that Vodafone holds in Verizon Wireless. It does not, however, currently have any intention to merge with or make an offer for Vodafone, whether alone or in conjunction with others.”
Make of it what you will, but it appears that Verizon and AT&T won’t be playing together. While it could be the standard boiler plate media response to get rid of media attention, Verizon has at least let us know where they stand on the 45% stake Vodafone has. It also looks like AT&T’s big break into other markets will have to come from somewhere else. So at this point in time it appears that nothing’s changed and that these “usually reliable people” weren’t so reliable. We’ll keep you posted if anything changes but don’t hold your breath.
source: Financial Times
Come comment on this article: Are Verizon and AT&T Working on a Vodafone Buy Out Deal? Verizon Says No