83.8 F
Fort Worth
Friday, September 18, 2020
- Advertisements -
Technology Vodafone shares up on Verizon, AT&T bid report

Vodafone shares up on Verizon, AT&T bid report

Other News

Wall Street posts solid gains after surge in corporate deals

By ALEX VEIGA and DAMIAN J. TROISE AP Business Writers Wall Street kicked off the week with a broad...

Tarrant County ranks low in work-from-home study by NAR

North Texas ranks pretty high in the “Work from Home” category, according to a just-released study by the National Association of Realtors....

Commentary: Universities and COVID-19: Charting turbulent times

Ray Perryman As the COVID-19 pandemic emerged this spring, college campuses across the United States swiftly sent students...

Linear Labs introduces electric motor that will fit inside a pocket

Leading the new wave of electrification, a Fort Worth-based technology company has built an electric motor that can fit inside one's pocket,...
Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

 

 

NEW YORK (AP) — U.S.-listed shares of Vodafone Group PLC, the British cellphone company that owns 45 percent of Verizon Wireless, rose Tuesday on a report that Verizon Communications Inc. and AT&T Inc. are looking at making a joint bid for Vodafone.

New York-based Verizon Communications owns the 55 percent of Verizon Wireless that Vodafone doesn’t own, and has been openly interested for years in buying out Vodafone. But tax and pricing issues have gotten in the way.

According to the Financial Times, the joint bid would mean Verizon would get Vodafone’s stake in Verizon Wireless, while AT&T would take over the rest of Vodafone, which has widespread international interests. It operates in Britain, Spain, Portugal, Italy, Greece and India, among other countries.

The newspaper cited “usually reliable people” that it did not further identify.

There has been speculation that AT&T is interested in international expansion, but few signals from the company that this is the case. Cross-border deals in telecommunications have few benefits.

Verizon had no comment on the report. AT&T didn’t immediately respond to a request for comment.

The London-based newspaper put the value of the bid at $245 billion, which would make it the largest corporate deal ever.

Vodafone shares rose 65 cents, or 2.3 percent, to $28.99 in midday trading, after spiking as high as $29.95 in earlier U.S. trading.

Shares of AT&T and Verizon were up about 1 percent, slightly more than market indices.

 

- Advertisements -
- Advertisements -

Latest News

Apple debuts discount watch, but no new iPhones … yet

By MICHAEL LIEDTKE AP Technology Writer SAN RAMON, Calif. (AP) — Apple introduced a cheaper version of its smartwatch,...

Q&A: What does a deal between TikTok and Oracle mean?

By ZEN SOO AP Technology Writer HONG KONG (AP) — ByteDance, the Chinese company that owns the popular video-sharing...

More recognition for Fort Worth’s Linear Labs

Smart electric motor company Linear Labs won Frost & Sullivan's esteemed 2020 New Product Innovation Award after extensive analysis of Linear Labs'...

TTI names vice president of its Military and Aerospace Segment

TTI Inc. has named Gia Hayes to fill the position of TTI Vice President, Military and Aerospace...