Verizon dismisses reports of bid for Vodafone

Verizon Communication has dismissed reports that it has teamed up with AT&T on a break-up bid for Vodafone.

Verizon Communication has dismissed reports that it has teamed up with AT&T on a break-up bid for Vodafone.

The two US telecoms groups were said to be considering a $245bn deal for Vodafone, according to the FT Alphaville.

While Verizon is still considering buying out Vodafone's share in joint venture Verizon Wireless, the company slammed the most recent bid claims.

"As Verizon has said many times, it would be a willing purchaser of the 45% stake that Vodafone holds in Verizon Wireless," Verizon said in a statement Wednesday.

"It does not, however, currently have any intention to merge with or make an offer for Vodafone, whether alone or in conjunction with others."

The news of a possible merger had sent Vodafone shares soaring on Tuesday.

Shares fell 2.89% to 186.45p at 08:13 Wednesday.

RD

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