A Financial Times report caused a 6.1% jump in share values for Vodafone Group Plc at the end of London trading. According to the report, AT&T and Verizon Communications would jointly bid for the UK based mobile phone company.
Verizon co-owns Verizon Wireless with Vodafone in the United States. The plan is to propose a break up bid for Vodafone from that joint venture, citing anonymous sources. The sources added that should the offer happen, the pitch would be at GBP0.260 pence or US$3.95 per share totalling a Vodafone enterprise value of US$245 billion as stated in the FT Alphaville blog.
Vodafone spokesperson Matt Morgan did not provide any comment on the FT Alphaville report while Verizon Wireless spokesperson Torod Neptune did not return a call before business hours on the matter. An AT&T spokesperson located in the UK also declined to comment.
While there have been previous discussions on the future of the venture, key disagreements have come to fore such as leadership issues and headquarter location.
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