Shares from Telecom Company Vodafone See a Ten-Year High

Online, April 17, 2013 (Newswire.com) - Vodafone is going strong amidst unconfirmed rumours of a potential takeover from US rivals AT&T and Verizon. The telecom company has reached an all-time high with their stocks as shares were trading up to six percent at 197p per share. This achievement marks Vodafone's best trading performance since January 2002. Despite such impressive numbers, AT&T and Verizon are reportedly looking to gear up for a massive bidding war for Vodafone that will see them go head-to-head in a classic major acquisitions clash. Financial analysts are pegging the takeover bids could go as high as 260p per share. Should the deal push through from either company using these target prices, then the Vodafone acquisition would become the biggest corporate takeover in the world.

All three telecom companies issued statements denying such rumours or refused to comment whether such plans are already underway. With over 403 million subscribers under their watch, Vodafone ranks second place as the world's largest mobile phone company, with China Mobile taking the top spot at a hefty 720 million subscribers. Given the worldwide reach of Vodafone, business pundits are not surprised by the takeover rumours, since AT&T and Verizon are also aiming to expand their consumer range outside the American market. Speculation also arose on a merger between Verizon and Vodafone, but this has since been shot down given that discussions between the heads of the two rival businesses could not agree as to who would lead the merged company and where the headquarters would be located.

But Vodafone's hesitance to broker a takeover deal has drawn criticism from certain parties. John Hempton, a hedge fund executive from Bronte Capital in Australia, has given his scathing opinion on the matter, on which he says, "With the demonstrated record of failure of Vodafone over the past decade, Vodafone has surrendered its right to make a deal - any deal - which leaves management to squander the proceeds from the best asset they have - the only asset they did not manage." Despite such critical backlash, Vodafone is careful not to lay out all cards on the table. Vittorio Colao, Vodafone's current CEO, has expressed confidence in the performance of his company and hinted that he has kept "an open mind" regarding the rumours and is looking for options on the future direction of the company. Colao intends to have the board of directors to assess and review the financial conditions twice every year.

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