AT&T Denies Vodafone Speculation

AT&T said it doesn't intend to make an offer soon for Vodafone Group, after months of speculation in the telecommunications industry of a potential multibillion-dollar deal.

AT&T said it was responding to speculation regarding a potential transaction with the British company after the UK Takeover Panel asked AT&T to clarify its position. AT&T is now restricted from making a takeover bid for Vodafone for six months under UK takeover rules. Vodafone's shares fell more than 5% in early London trading. A European telecommunications executive with knowledge of the matter said there was strong speculation that AT&T was continuing to lay regulatory, legal and financial groundwork for a Vodafone bid. "The AT&T statement has further fueled the talk that it plans a bid for Vodafone in the second half of the year," the executive said.