Investors hoping for a giant trans-Atlantic telecom deal will have to cool their heels for a bit longer.
Verizon Communications said on Tuesday afternoon that it does not “currently have any intention to merge with or make an offer for Vodafone, whether alone or in conjunction with others.â€
The word from Verizon, disclosed in a securities filing after market close, followed a report by The Financial Times’ Alphaville blog that the American telecom giant was working with AT&T on a potential bid for Vodafone.
Verizon would have acquired the British company’s 45 percent stake in Verizon Wireless, the heavyweight cellphone service provider, while AT&T would have taken over the rest of Vodafone’s operations.
That offer, as described by Alphaville, could have solved needs of all three companies. Verizon would buy full control of Verizon Wireless, while Vodafone would have finally received what could have been a potentially high premium for its stake. And AT&T would have found new markets in which to grow, after its deal-making efforts were stymied in recent years.
Some future offer by Verizon may be off the table for six months, per British securities regulations, but certainly not in the long term. Verizon noted in its securities filing that it has said many times that “it would be a willing purchaser†of Vodafone’s 45 percent stake in the wireless unit.
Alphaville’s post sent Vodafone’s stock up 4.3 percent on Tuesday, to 194.70 pence.
