A news report about...
A news report about a potential joint Verizon Communications and AT&T bid to buy Vodafone appears to bring “more credibility” to recent speculation, Wells Fargo analyst Jennifer Fritzsche said Tuesday in an email to investors. The Financial Times reported Tuesday…
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that the two telcos are looking at a deal with an enterprise value of $245 billion. Verizon would acquire Vodafone’s 45 percent ownership of Verizon Wireless, while AT&T would acquire Vodafone’s remaining assets. Such a transaction would be complex, but makes sense given Verizon’s longtime desire to gain full control of Verizon Wireless and AT&T’s recent interest in international expansion, said Fritzsche. If the report is true, “we question what [AT&T’s] strategy is here,” she said. “In our view, while [Vodafone’s] European assets bring in cash flow, these also would bring a large regulatory complexity to the company.” Spokesmen for AT&T and Verizon declined to comment.