The American operator has ended months of speculation that it will buy Vodafone, with CEO Randall Stephenson confirming it “does not intend to make an offer”
American telecommunications company AT&T has confirmed it will not try and buy Vodafone, ending months of speculation.
AT&T CEO Randall Stephenson was forced to confirm AT&T’s intentions after the UK Takeover Panel – which supervises mergers and acquisitions to ensure fair treatment of shareholders – asked it to.
In a statement to the stock exchange today (January 27), Stephenson said “At the request of the UK Takeover Panel, AT&T confirms that it does not intend to make an offer for Vodafone.”
UK rules on takeovers mean AT&T must now wait six months before it can change its mind and make an offer – unless another company makes a bid for Vodafone.
The announcement, which saw Vodafone shares fall six per cent, ends months of speculation which began in October when Stephenson said he saw a “huge opportunity” to invest in mobile broadband in Europe.