A PYMNTS Company

EU: AT&T dashes hopes of EU expansion

By  |  March 23, 2014

Despite AT&T having repeatedly denied interest in breaking into the EU telco market through a merger with Vodafone, industry insiders have continued to suggest that such an expansion was imminent. Not anymore, according to reports.

AT&T CFO John Stephens announced last week at a conference for Deutsche Bank that he sees the “window closing” to enter the EU market, as LTE shows slowing growth.

The company’s “focus is clearly in the US,” he reportedly said, as AT&T looks to see whether Comcast’s acquisition of Time Warner Cable will go through.

Earlier this year, AT&T had told a UK panel on Takeovers and Mergers that it has no intention of pursuing a Vodafone buyout; the remarks barred AT&T from making a bid for any UK company for six months by law.

But experts suggested that the remarks were merely a sign of delayed interest in EU assets, instead of no interest at all.

Full Content: Forbes

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.