Vodafone Shares Shrug Off the Takeover Rumours

Summary

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SHARES in mobile phone giant Vodafone were expected to remain unmoved at 125 3/4p, according to spread better Cantor Index, despite an unconfirmed report that rival telcos and a private equity firm are lining up a 160p a share takeover bid.

Verizon, which partners Vodafone in the US, Telefonica, the Spanish group which paid Pounds 18 billion for O2 last year and Blackstone, the US private equity group best known for its purchase of the Savoy hotels group, are said to be trying to raise funds for the Pounds 96 billion offer. JP Morgan Cazenove is reportedly masterminding the move.

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Vodafone Shares Shrug Off the Takeover Rumours

If the bid suc...

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