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EU: AT&T looks to EU market, shut down by Telefonica

 |  June 21, 2013

The second-largest mobile telecommunications operator in the US reportedly eyed a strategic deal with Spain’s Telefonica, but according to one unnamed source, Telefonica shut down AT&T over its informal proposal to acquire 29.9 percent of the company. Despite the rejection, AT&T is still said to be exploring the European market with interest in Telefonica’s UK assets or, perhaps, Vodafone Group Plc’s assets. Further, AT&T is also looking at its joint venture with France Telecom SA and Deutsche Telekom AG for a company named EE. Sources say the Texas mobile company has been contemplating the market across the pond for about two months, likely in response to the growing competition from US mobile leader Verizon Group Plc.

Full Content: Bloomberg

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