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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 on Monday ruled out buying Vodafone for the next six months after an enquiry by Britain's takeover panel following months of speculation, sending its shares down 6 percent.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.In a statement to the London Stock Exchange, the second-largest mobile service provider in the United States denied that it was planning a bid. However, it could come back under certain circumstances, including 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."

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.