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Pin to quick picksVodafone Share News (VOD)

Share Price Information for Vodafone (VOD)

London Stock Exchange
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Share Price: 67.48
Bid: 67.48
Ask: 67.50
Change: -0.18 (-0.27%)
Spread: 0.02 (0.03%)
Open: 69.32
High: 69.32
Low: 67.42
Prev. Close: 67.66
VOD Live PriceLast checked at -

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T-Mobile CFO makes case for U.S. consolidation, Sprint deal

Wed, 25th Sep 2013 14:56

NEW YORK, Sept 25 (Reuters) - T-Mobile US Inc ChiefFinancial Officer Braxton Carter said on Wednesday that heexpected more consolidation in the U.S. wireless market and madea case for a deal between his company and bigger rival SprintCorp.

Carter declined to say whether T-Mobile US, the No. 4 U.S.mobile provider, and Sprint, the No. 3 U.S. operator, hadtalked. "It's the logical ultimate combination," Carter toldReuters on the sidelines of the Goldman Sachs Communacopiainvestor conference in New York.

"We think it's not a question of if but when that there'sfurther consolidation in our industry," Carter told theaudience.

Carter conceded that the current U.S. regulatory environmentwas "tough" for consolidation as the government already blockedT-Mobile's proposed sale to AT&T Inc in 2011, saying thatthe market needed four national operators.

He said a deal involving the smaller national operatorswould be good for the industry. He described the U.S. market asa "duopoly" because AT&T and larger rival Verizon Wireless are far bigger than T-Mobile and Sprint.

So if a consolidation resulted in a much bigger No. 3 rivalto AT&T and Verizon, "you create a more competitiveenvironment," Carter said.

However, such a deal might take time to come together.Carter's comments followed a prediction by No. 2 rival AT&TInc's chief executive officer, Randall Stephenson, the daybefore about the unlikelihood of any major mergers here in thenext few years because regulators appear to want four majoroperators.

Since it closed its merger with smaller provider MetroPCS inApril, T-Mobile US itself has been improving its customernumbers by competing aggressively against AT&T with new consumerofferings and direct marketing.

AT&T's Stephenson had said Tuesday that his company was onlyaffected by the tougher competition from T-Mobile US in the"price-sensitive" part of the market.

But on Wednesday T-Mobile Chief Marketing Officer MikeSievert quipped during his appearance at the conference that"the price-sensitive part of the market is the lower 90percent."

T-Mobile shares were up 2.7 percent at $26.12 on New YorkStock Exchange on Wednesday, while Sprint was down 0.5 percentat $6.16.

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IN BRIEF: Vodafone Chair Boxmeer buys GBP570,000 in shares

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Vodafone Germany to cut 2,000 jobs in revamp

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UPDATE: Vodafone Germany cuts 2,000 jobs as part of savings programme

(Alliance News) - Vodafone GmbH is cutting and relocating around 2,000 jobs in a bid to save EUR400 million in the next two years, the Dusseldorf, Germany-based subsidiary of Vodafone Group PLC announced on Tuesday.

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Vodafone Germany: 400-mln-eur restructuring to affect 2,000 jobs

BERLIN, March 26 (Reuters) - Vodafone Germany said on Tuesday that it aims to save around 400 million euros ($434.48 million) over the next two years as part of a transformation programme that will affect some 2,000 jobs.

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Vodafone Germany cutting 2,000 jobs as part of savings programme

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