U.K. stocks were little changed as minutes from the Federal Reserve’s last meeting signaled policy makers may slow the pace of bond purchases in coming months and as Chinese manufacturing expanded slower than forecast.
Vodafone Group Plc, set to receive $130 billion for exiting the U.S., will focus on expanding wireless networks even as potential buyers may be sizing up the company for a bid, Chief Executive Officer Vittorio Colao said.
Telecom Italia SpA, the phone company that lost its investment grade and chief executive officer last month, aims to restore its credit rating within three years by reviving the domestic business and cutting debt, new CEO Marco Patuano said in an interview.
Vodafone Group Plc, the second- largest wireless company, will plow billions into improving its network speed and coverage as it works to reverse service-sales declines that trailed analysts’ estimates.
AT&T Inc. executives are laying the groundwork internally for a potential takeover of Vodafone Group Plc next year, mapping out a strategy for a complex deal with Europe’s largest mobile carrier, people familiar with the situation said.
Verizon Communications Inc. agreed to buy Vodafone Group Plc’s 45 percent stake in Verizon Wireless for $130 billion, getting full control of the most profitable U.S. mobile-phone carrier in the biggest acquisition in more than a decade.
While on safari in Tanzania last month, tracking the usual assortment of giraffes, zebras and lions, Vodafone Group Plc Chief Executive Officer Vittorio Colao had to stop for calls and e-mails on one of the biggest corporate transactions on record.
Vodafone Group Plc’s sale of its Verizon Wireless stake will usher in what Chief Executive Officer Vittorio Colao called a new chapter focused on expanding services and strengthening the company’s presence where it already exists.
Verizon Communications Inc. set the stage for the $130 billion buyout of Vodafone Group Plc’s stake in their U.S. venture two years ago, when it named a new chief executive officer: Lowell McAdam, a 20-year veteran of the wireless industry with long-standing ties to Europe.