Verizon not interested in buying Vodafone

Vodafone share price dropped by 2.8per cent after Verizon’s denial.

14:09 04 April 2013

On Tuesday, after reports that Verizon and AT&T were apparently considering buying the British mobile giant, Vodafone shares close at 10-year high at 192p. However, on Wednesday, Verizon denied that it had interest in buying.

Following the denial, Vodafone shares dropped by 3per cent to 186p. Verizon’s shares also went down by 1.25per cent by the close of business in London. 

 

Verizon said it was still interested in buying out Vodafone’s stake in Verizon Wireless but “does not currently have any intention to merge with or make an offer for Vodafone, whether alone or in conjunction with others”.

 

Meanwhile, AT&T has no comment on the take over speculation. 

 

Analysts at Oriel do not believe that a deal between Vodafone, Verizon, and AT&T will happen anytime soon, as reported by The Telegraph.

 

Vodafone was one of the blue chips that dragged down FTSE 100 on Wednesday morning. London’s leading share index dropped by 23 points to 6467.