Vodafone ‘mulls bid for T-Mobile’
By Wire News Sources on June 29, 2009
Vodafone is considering buying T-Mobile in a move that would make the firm the biggest mobile phone operator in the UK, the Financial Times (FT) has said.
The Newbury-based firm is interested in acquiring T-Mobile, even though the deal may be blocked by regulators, the paper said.
Vodafone has a 25% share of the UK market, behind O2. T-Mobile, owned by Deutsche Telekom, has a 15% share.
Both Vodafone and T-Mobile declined to comment on the report.
Deutsche Telekom has appointed JP Morgan to advise on "strategic options", the newspaper says.
Vodafone has previously announced a £1bn cost-cutting plan.
It was forced to write-off £5.9bn in the 12 months to the end of March – mostly related to its Spanish business – as its pre-tax profits fell 53.5% to £4.2bn from £9bn a year earlier. </p
This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
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