Vodafone Group Plc announced its exit from its venture with Verizon Communications Inc. The latter is the biggest mobile company in Europe. Verizon had been confronted with a tough decision to make: to buy or be bought. AT&T Inc. had been looking at possible acquisitions this year.
AT&T would examine assets in Verizon after Vodafone sell 45% of its stake that would end the 14 year old US wireless venture.
According to sources, AT&T is only interested in acquiring assets in the wireless sector. A possible deal would not push through once Vodafone expands in fixed-line and cable businesses. Verizon's stake was said to be valued at USD130 billion. This was according to people who were familiar with the matter and asked not to be identified as internal deliberations were held private in nature.
Sanford C. Bernstein analyst Robin Biennenstock said that AT&T could pay GBP80 billion for the remaining stake of Vodafone.
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