Vodafone denies FT speculation

U.K. telecom giant Vodafone Group plc announced Monday, July 16, that it has no plans to make an offer for Verizon Communications Inc. Vodafone said it was making the statement in response to speculation on the FT Alphaville, a Financial Times blog, that the company was considering a $160 million bid for its U.S. peer. Speculation suggests a deal would have been funded by the sale of Verizon's fixed telecoms division to private equity buyers to raise roughly $90 billion. Vodafone and Verizon are joint venture partners in Verizon Wireless where Vodafone holds a 45% stake.

Full coverage and analysis will come later in The Daily Deal and on TheDeal.com after 6 p.m.—Phineas Lambert

See first post from FT Alphaville
See press release from Vodafone
See follow up post from FT Alphaville

Tags: Vodafone, Verizon, Verizon Wireless, mergers, private+equity, deals, private-equity

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