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AT&T (T) has reportedly been thwarted in a €70B bid to acquire Telefonica (TEF) by...

AT&T (T) has reportedly been thwarted in a €70B bid to acquire Telefonica (TEF) by Spain's government, which has the power to stop the sale of any company that is deemed strategic. The U.S. carrier told state representatives that it would take on the Spanish operator's €52B of debt as part of any transaction. Telefonica said it hasn't "received any approach or...indication of interest," from AT&T.
Comments (4)
  • Spain has...what, 60% unemployment among 18 to 25 yr olds. The country is sinking into quick sand and the government is worried about it's national pride? Typical latin hubris.
    17 Jun 2013, 05:08 AM Reply Like
  • Please know your "geography." Spain is not Latin America, it is a European country. Therefore, if you want to talk about "geographical hubris," you would say "typical European hubris," and not "typical Latin hubris."
    17 Jun 2013, 05:42 AM Reply Like
  • Possible prelude to a bid for $VOD's non VZW ops?
    17 Jun 2013, 09:59 AM Reply Like
  • holy smokes - that's a lot of debt! However good South American and EU market share - but man - that's a lot of debt!
    17 Jun 2013, 09:47 PM Reply Like
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