AT&T: Not Bidding for Vodafone

Did you just hear that? AT&T just hung up the phone on Vodafone. AT&T decided against a takeover of one of Britain’s largest cellular phone companies. Reports had stated that AT&T had been interested in a possible bid for Vodafone but AT&T just clarified their stance as a no go in terms of a potential buy out. This decision has cemented at least for six months AT&Ts inability to bid or buy the company without the exclusive invitation by Vodafone directly.

With the NSA scandal looming fresh in the minds of all, and European telecom shares coming back strong driving prices up, AT&T had an uphill battle in purchasing Vodafone. However, many pundits believe the deal could still go through. With a deal priced at over $115 billion, AT&T could potentially become a huge global player in the world of telecoms if they were to pursue the deal. When the CEO of AT&T mentioned the potential to invest in European broadband in the mobile market, heads spun.

Meeting in Davos, Switzerland, at the World Economic Forum, the AT&T CEO and the head of the European Union telecom boss picked heads about their different plans as well as the NSA spying scandal that swept the world in 2013. Shares of Vodafone dropped due to the news and AT&T noticed a slight bump in their share prices.

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