AT&T waves off Vodafone for at least six months
Rumors have been circulating for a while that AT&T was looking to purchase European wireless company Vodafone. Talk of an AT&T purchase first began to surface when Vodafone sold off its shares in Verizon in the US.
AT&T recently told the British Takeover Panel that it did not intend to buy Vodafone for at least the next six months reports Reuters. The announcement sent shares in Vodafone tumbling 6% in trading. AT&T could come back to the purchase table if certain outside conditions are met.
That outside condition is if a third party steps into the fray in an attempt to buy Vodafone. Analysts think that AT&T stepped away from the potential purchase due to the intense competition in the European mobile marketplace driving down prices.
"AT&T notes the recent speculation regarding a potential transaction involving Vodafone Group Plc," it said in a short statement. "At the request of the UK Takeover Panel, AT&T confirms that it does not intend to make an offer for Vodafone."