Vodafone shares plunge after AT&T says won't make offer

|About: Vodafone Group Plc (VOD)|By:, SA News Editor

Vodafone's (VOD) shares have slumped 6.4% in London after AT&T (T) said it has no intention of making an offer for the U.K. telecom operator.

AT&T made a statement to the London Stock Exchange in response to a request from the the U.K.'s Takeover Panel following much speculation that the U.S. provider was interested in Vodafone after the latter agreed to sell its 45% stake in Verizon Wireless to Verizon for $130B last year.

The statement means that AT&T can't make an offer for Vodafone for the next six months unless the British company agrees to it, another firm makes a proposal, or the authorities decide that circumstances have changed materially. (PR)