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Monday, January 27, 2014

AT&T says does not intend to bid for Vodafone, (NASDAQ: VOD)

U.S. mobile operator AT&T said on Monday it was not planning to take over Britain's Vodafone, making its intentions clear after a request from the takeover panel following months of speculation.The statement to the London Stock Exchange rules out the second-largest mobile service provider in the United States from buying Vodafone for the next six months. However the group can still make an offer if Vodafone's board agrees to it, or if a third party enters the fray."AT&T notes the recent speculation regarding a potential transaction involving Vodafone Group Plc," it said in a short statement. "At the request of the UK Takeover Panel, AT&T confirms that it does not intend to make an offer for Vodafone."AT&T had sparked speculation that it could be interested in a deal with Vodafone after its Chief Executive Randall Stephenson said there was a "huge opportunity" to invest in mobile broadband in Europe.

Vodafone Group Plc (Vodafone) is a mobile communications company. Shares of VOD fell by 2.69% or $-1.05/share to $38.04. In the past year, the shares have traded as low as $24.42 and as high as $39.44. On average, 8665130 shares of VOD exchange hands on a given day and today's volume is recorded at 11397200.