New sources give credibility to AT&T expansion plans

24 Jun 2013

AT&T Inc has explored a number of potential expansion deals in the last two months, people familiar with the matter have told Bloomberg, including buying a stake in Telefonica, or acquiring some of the Madrid-based firm’s foreign assets. The US mobile giant informally approached the Spanish authorities to discuss its interest in buying as much as 29.9% of Telefonica, but was given the cold shoulder by the government. Despite the knock-back, AT&T has also evaluated scenarios that include making a move for 02 UK, Telefonica’s British mobile unit, or some of its Latin American businesses. Industry insiders have suggested that AT&T is looking abroad for strategic opportunities after being thwarted in its 2011 attempt to buy T-Mobile USA.

United States, AT&T, O2 UK, Telefonica