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| Version 1 | Version 2 |
|---|---|
| Verizon denies interest in buying Vodafone | Verizon denies interest in buying Vodafone |
| (about 3 hours later) | |
| US telecoms group Verizon Communications has denied that it wants to buy or merge with UK mobile phone operator Vodafone. | US telecoms group Verizon Communications has denied that it wants to buy or merge with UK mobile phone operator Vodafone. |
| It follows a press report that said Verizon could make a joint move for Vodafone with fellow US firm AT&T. | It follows a press report that said Verizon could make a joint move for Vodafone with fellow US firm AT&T. |
| Verizon said it did not "currently have any intention to merge with or make an offer for Vodafone". | Verizon said it did not "currently have any intention to merge with or make an offer for Vodafone". |
| It added that it remained interested in buying out Vodafone's 45% stake in their Verizon Wireless joint venture. | It added that it remained interested in buying out Vodafone's 45% stake in their Verizon Wireless joint venture. |
| Verizon Wireless is one of the largest mobile phone networks in the US. | Verizon Wireless is one of the largest mobile phone networks in the US. |
| 'Open mind' | 'Open mind' |
| On Tuesday, the report that Vodafone could face a takeover bid saw its shares close at a 10-year high, up 2.9% at 192p. The denial from Verizon sent Vodafone's shares down 2.3% to 187.65p on Wednesday morning. | |
| AT&T has not commented on the takeover speculation. | AT&T has not commented on the takeover speculation. |
| There has also been media speculation in recent months that Vodafone could sell its stake in Verizon Wireless, and leave the US market. | There has also been media speculation in recent months that Vodafone could sell its stake in Verizon Wireless, and leave the US market. |
| However, such a move would hit Vodafone with a substantial capital gains tax bill because the value of Verizon Wireless is now substantially higher than when it was formed back in 2000. | However, such a move would hit Vodafone with a substantial capital gains tax bill because the value of Verizon Wireless is now substantially higher than when it was formed back in 2000. |
| Last month, Vodafone's chief executive Vittorio Colao said he had "an open mind" about the share holding. | Last month, Vodafone's chief executive Vittorio Colao said he had "an open mind" about the share holding. |