Verizon gets Vodafone OK for Sprint bid: WSJ
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Verizon Communications has gained the backing of partner Vodafone Group to bid for Sprint Corp in a move that could thwart Sprint&#39;s potential $35 billion bid for Nextel Communications, the Wall Street Journal reported on Tuesday.
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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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British mobile phone giant Vodafone agreed to buy an 11-billion-dollar controlling stake in India's Hutchison Essar in an attempt to move into the world's fastest-growing mobile phone market.
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The US mobile phone company, Sprint, agreed a $35bn (Â£18bn) takeover of rival Nextel yesterday, creating a third powerhouse in the rapidly consolidating American market.
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Shares of Sprint and Nextel jumped Thursday following reports the two telecommunications companies are discussing a merger. Sprint stock gained a $1.80 a share to close at $24.30 on the New York Stock Exchange.
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NEW YORK, December 15  - The worldâs leading mobile-phone operator, Vodafone Group Plc, denied yesterday that it had approved a bid by its partner, Verizon Communications Inc, for Sprint (FON.
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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.
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update Verizon Communications has no imminent plans to bid for Sprint, people familiar with the situation said Tuesday, toppling a potential obstacle to Sprint&#39;s $37.8 billion bid for Nextel Communications.
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Britain's Vodafone Group  has  won the auction for a controlling stake in Hutchison Essar with  an offer that gives India's fourth biggest mobile operator an  enterprise value of just under $19 billion, a source close to  the auction said on Sunday.
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BARCELONA/HONG KONG  - Vodafone shares climbed in early Monday trading after it beat rival suitors with an $11.1 billion bid for a controlling stake in Hutchison Essar, India's fourth-biggest mobile phone firm.
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LONDON/NEW YORK  - British wireless telecommunications company Vodafone Group Plc  said on Monday 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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Vodafone, the UK-based telecom company that co-owns Verizon Wireless, denies that it is involved in a bid to take over US telco Sprint.
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Britain's Vodafone Group Plc   has won the battle for a controlling stake in Hutchison  Essar with a bid that values India's fourth-biggest mobile firm  at around $19 billion, including debt.
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Sprint Corp and Nextel Communications have tentatively agreed on key terms in a $US35 billion ($47billion) merger deal that would create a giant mobile phone carrier with nearly 39 million subscribers.
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Verizon Communications Inc. VZ.N  has no imminent plans to bid for Sprint Corp. FON.N, people  familiar with the situation said on Tuesday, lifting a  potential obstacle to Sprint's bid for Nextel Communications  Inc. NXTL.O.
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England-based Vodafone Group Plc yesterday denied a report that it was backing partner company Verizon in a bid to block the possible merger between Sprint and Nextel, which analysts expected to be announced today.
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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.