(Reuters) - Vodafone (VOD.L) shares turned higher late on Tuesday, with traders citing a Nikkei report suggesting the British mobile operator may become a takeover target for Japanese telecoms firm SoftBank (9984.T).
Officials at Vodafone were not immediately available to comment.
My limited experience of takeovers, especially of large companies, is that we will have to wait till after Christmas, even if the rumours are true. I think Vodafone is a bargain at the moment so believe it will go ahead, but you are sitting on an excellent dividend while you wait. Frustrating though...
Make of this what you will: "Deutsche Telekom sees potential offers which value its T-Mobile US unit at $35 a share as being substantially too low, a person familiar with the matter said on Thursday, countering a report from Bloomberg. Bloomberg earlier reported that Deutsche Telekom is willing to negotiate a sale of T-Mobile if an offer values the business at $35 or more, citing a source. Deutsche Telekom earlier this month rejected an offer from Iliad for T-Mobile." (Reuters)
Spain’s Telefónica has stormed ahead in the battle for Brazil’s telecoms market, convincing Vivendi to choose its €7.45bn offer for the French group’s Brazilian broadband business. Vivendi said on Thursday it would enter exclusive negotiations with Telefónica over the sale of its Brazilian unit GVT, shunning a lower offer from Telecom Italia. (Financial Times)
Telefonica and Telecom Italia have both launched new bids for Vivendi's (OTCPK:VIVHY) GVT, which will be examined by the latter's supervisory board today. Telefonica (NYSE:TEF) has raised its bid to €4.66B in cash and will offer Vivendi a 12% stake in Telefonica Brasil (NYSE:VIV) - a bid valued at a total €7.45B. Telecom Italia's (NYSE:TI) offer represents a total enterprise value of €7B ($9.24B) and includes €1.7B in cash, a 16% stake in Telecom Italia and 15% of TIM Brasil.
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