Vodafone denies it is in the market for Verizon

17 Jul 2007

The UK-based mobile phone group Vodafone yesterday dismissed media rumours that it is pursuing a USD160 billion takeover offer for US operator Verizon Communications, saying it has no interest in the company. Verizon shares rose 10% in pre-trading, while Vodafone slipped 2.5% in the wake of an article on the Financial Times’ website suggesting it was contemplating a bid. However, in a company statement to the London Stock Exchange on Monday, Vodafone acknowledged the press speculation surrounding a possible offer, but said it wished ‘to make it clear that it has no plans to make such an offer.’ Vodafone shares began to rebound following the company’s statement.

United States, Verizon Communications, Vodafone Group