Vodafone denies interest in Sprint bid
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Vodafone, the UK-based mobile phone giant, has denied reports that it might be preparing a joint bid with Verizon for Sprint, the third largest US mobile operator.
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Shares in Vodafone Group Plc, the world&#39;s largest mobile-phone operator, dropped after The Wall Street Journal said the company is considering bidding with US partner Verizon Communications Inc.
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(InfoWorld) - Vodafone Group had almost 200 million customers by Dec. 31, but continues to face challenges in the competitive and saturated European market. The operator's European business stagnated, with fourth-quarter revenue growing just 0.9 percent year on year, excluding the effect of acquisitions. Worldwide, its growth excluding acquisitions totalled 6.1 percent. The company accounts for revenue from partly-owned subsidiaries in proportion to its holding. Vodafone said that despite low growth in Europe, some of its new calling plans, such as one that offers users a lower price for calls made within their home area and others that include fixed-line broadband Internet access, are attracting new customers. Price competition, however, is offsetting that growth. Revenue from Vodafone's operations outside Europe, excluding acquisitions, grew 14.4 percent compared to a year earlier. Egypt, Romania, South Africa, and Turkey showed particularly strong growth during the period, Vodafone said. The operator offered no further insight into itsÂ negotiations to buyÂ a controlling interest in Indian operator Hutchison Essar. The board is continuing to investigate the possibility and will only agree to a deal that meets Vodafone's financial criteria, Vodafone CEO Arun Sarin said during a conference call to discuss the results. U.S. operator Verizon Wireless, in which Vodafone owns a stake, also did well during the quarter, with Vodafone's share of the business acquiring one million new customers. Vodafone is still pleased with its stake in Verizon Wireless, although the company uses a different wireless technology to that used by Vodafone's holdings elsewhere in the world. "There is no concept of our selling our interest there," Sarin said. While rumors have surfaced regularly over the past few years that Verizon Wireless might be considering a major technology change, that's still doubtful, Sarin said. Even Apple'sÂ much anticipated iPhone, which operates on GSM (Global System for Mobile Communications), the technology that competes with Verizon's CDMA (Code Division Multiple Access) network, is unlikely to encourage Verizon to make a change, Sarin said. The migration to fourth-generation networks, which operators will begin to make in the next few years, will probably cement Verizon's choice. "That's the time Verizon Wireless will think about what next generation of technology that they can deploy and of course they'll try to deploy a technology that is as backward compatible as they can," he said. Data services are also paying off for Vodafone. Non-voice average revenue per user was up 62 percent for the quarter compared to the year earlier. Vodafone has attracted 50 percent of its total customers to sign up for Passport, a plan that offers reduced rates on roaming. The European Commission is proposing a regulation that would require operators to reduce their roaming rates. Vodafone doesn't expect the commission to make a final decision until this summer, said Sarin.
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Vodafone Group shares fell on Tuesday as a Wall Street Journal report that its US partner Verizon was weighing a $40 billion-plus bid for Sprint revived fears it would be drawn into its second bid battle of the year.
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Verison and its global partner Vodafone may enter the bidding war for another mobile phone giant, Sprint, The Wall Street Journal reported Tuesday.
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US telecom giant AT&amp;T is not considering a bid for British mobile phone operator Vodafone, but is likely to make smaller acquisitions to better meet the needs of multinational companies, the company&#39;s chief executive said in an interview published Tuesday.
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Vodafone recently considered making a full offer for Verizon Communications (NYSE:VZ) in an attempt to break the impasse over the future of its stake in US mobile phone operator Verizon Wireless.
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Vodafone Group PLC on Monday denied a newspaper report it is considering making a $160 billion bid for its U.S. partner in the wireless phone business, Verizon Communications Inc.
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Mobile phone giant Vodafone says it has not yet seen any sign of a global economic slowdown.
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The London Stock Exchange said it had rejected a Â£1.3bn takeover bid from Deutsche Boerse but held the door open to talks that could result in a deal with the German exchange.
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South Korea's SK Telecom denied on Tuesday a local newspaper report that it is preparing a bid for Sprint Nextel.
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British-based mobile phone group Vodafone  said on Monday it had no plans to bid for U.S. group Verizon Communications Inc , denying a media report.
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US telecom giant ATT is not considering a bid for mobile phone operator Vodafone, but is likely to make smaller acquisitions to better meet the needs of multinational companies, the company&#39;s chief executive said in an interview published Tuesday.
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LONDON/NEW YORK  - Wireless telecommunications company Vodafone Group Plc  said it is not planning to bid for Verizon Communications Inc , responding to a report it was considering a $160 billion offer.
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Verizon Communication Inc.'s wireless partner on Tuesday distanced itself from discussions on a potential bid for Sprint Corp.
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Vodafone Group, the world&#39;s largest mobile-phone operator, said Tuesday it&#39;s not in talks with partner Verizon Communications to bid for Sprint Corp.
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Shares of Sprint Nextel Corp   rose over 3.5 percent on Friday as investors reacted to market  speculation the No. 3 U.S. mobile service could be sold to  Britain&#39;s BT Group , but analysts were skeptical.