AT&T Considering Vodafone Takeover Next Year

Posted: Nov 1 2013, 3:49am CDT | by , in News | Technology News

AT&T Considering Vodafone Takeover Next Year

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AT&T has its eyes set on Vodafone. AT&T is considering to takeover Vodafone as early as next year. And although there haven’t been any talks yet, the odds are in favor of an agreement.

AT&T wants to own a major part of the European wireless sector. That’s the reason it is busy exploring avenues of entry. The purchase of Vodafone may assist it in this regard in a big way. European authorities meanwhile have their own hurdles. They are anxious about the NSA PRISM scandal of which AT&T was a part.

The pact is still in the preliminary stages. It will probably go into effect next year. That would also be the time when Vodafone gets rid of its $130 billion stake in Verizon. Furthermore, AT&T has already decided that an alternative is a must. That is why the second choice after Vodafone is British carrier EE. Nevertheless the actual target for AT&T is Vodafone.

Originally the plans were that Verizon and AT&T would buy out Vodafone. But later on Verizon denied the rumor. Were AT&T to engulf Vodafone, its reach would extend to 500 million subscribers. AT&T spokespersons have failed to comment on the proceedings. But something is definitely going on. As they say, where there is smoke, there is fire.

The stock prices of both AT&T and Vodafone rose considerably due to the speculation surrounding their possible merger. It often happens in this competitive world of ours that companies decide to join hands for a common purpose. In case of AT&T and Vodafone something similar can be seen to be taking place.

Source: Bloomberg

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
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