AT&T making eyes at Vodafone for a $60 billion takeover

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AT&T CEO has met with EU regulators ahead of any potential bid

Verizon has just recently agreed to buyout Vodafone's stake in it, but the European carrier is now the target it seems of AT&T. Around the time the Verizon buyout was getting going, we first heard AT&T CEO Randall Stephenson talk about Europe as the next potential target for expansion. But instead of going after a smaller carrier, it looks like the target is one of Europe's biggest, with a potential $60 billion takeover of Vodafone in mind. 

Ahead of any bid, Stephenson has been meeting with EU regulators to discuss the U.S. carriers European ambitions. The two giants coming together would create a combined entity with a market value around $150 billion. The Vodafone deal with Verizon hasn't yet been completed, so no formal approach has been made by AT&T, but that is expected to close soon. AT&T has apparently already begun discussing financing for a the potential takeover bid. 

Acquiring Vodafone would certainly be a big entry into Europe for AT&T. Some of the biggest mobile markets in Europe are covered by Vodafone, including the UK, Germany, Spain and Italy. 

Source: Sky News

Richard Devine