The rumor mill will have to move on to another target, at least in the near term according to various reports this morning. When pressed for clarity on its intentions by UK regulators, AT&T ruled out making any sort of bid.
The Verizon/Vodafone deal for the former’s full control of Verizon Wireless should close in a few weeks, and many had thought that AT&T might pounce on the remaining pieces of Vodafone as a way to expand its European holdings. The rumor mill had apparently been peaking over the weekend, but there was no fire under the smoke.
But that doesn’t mean this one won’t smolder on, as six months is just one or two rumor cycles away. And the Verizon/Vodafone deal was in the making for what, five years or more? But Vodafone has other options with the cash hoard it will soon be sitting on, and I didn’t think they’d be rushng to sell at the first offer. At the moment though, it seems they may be looking at more investments in cable assets. If they indeed follow through with that line of attack, it could take them further from what AT&T is looking for anyway.
What next? I’ll bet the rumor mill finds another European target or two for AT&T. Maybe the Dutch would be happier with AT&T than America Movil?
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