Vodaphone for AT&T

[Brian Turner]

excerpt:

Vodafone faces AT&T bid deadline

Mobile phone giant Vodafone must decide soon whether it is to make a bid for US rival AT&T Wireless.


Offers for the struggling third-ranked US group must be made by a deadline of 2200 GMT on Friday.

But, investors appear to be unhappy - shares in Vodafone have fallen 7% in recent days on concerns over the move.

Meanwhile, Japanese newspapers reported that NTT DoCoMo is expected not to bid - leaving the field clear for Vodafone and US group Cingular.

Cingular, owned by SBC Communications and BellSouth, has already submitted a $30bn (£18m) informal offer for the wireless operator.

Reports suggest that Vodafone has called a board meeting to seek clearance for a bid that may trump Cingular's offer. However, for competition reasons Vodafone would have to ditch its 45% stake in US market leader Verizon Wireless if it did buy AT&T Wireless.

http://news.bbc.co.uk/1/hi/business/3484931.stm

[Brian Turner]

Ah! Pipped at the post!

excerpt:

US firm pips Vodafone in bid race

US telecoms firm Cingular has beaten UK rival Vodafone in the brief but tense battle to take over AT&T Wireless.
Cingular has agreed to pay $41bn (£22bn) for the US firm, some $3bn more than Vodafone reportedly offered.

Vodafone shares finished the day 4.5% higher, amid investor relief that the firm no longer risked overpaying in its quest for US market share.

At the final bell in New York, AT&T was up $1.96, or almost 17%, to $13.78, and was the most actively traded stock.

Some analysts had argued that AT&T Wireless was a closer strategic fit with Cingular than Vodafone.

http://news.bbc.co.uk/1/hi/business/3495113.stm