Vodafone warned against takeover of T Mobile
While T Mobile is not yet officially up for sale, it is common knowledge in the mobile telecoms industry that the operation has been touted around some of the world's more prominent mobile telecom companies. However, today's Vodafone AGM prompted a number of small shareholders to step forward and warn the company against acquiring the T Mobile operation if indeed it does become available.
So far the Vodafone board has been non-committal in public regarding the potential acquisition of T Mobile although it is thought that the company has been approached and is considering its next move. This would be a multibillion pound takeover at a time when mobile phone usage is under pressure as the worldwide economy continues to struggle. There are two trains of thought with regards to a potential acquisition of T Mobile, one being that the price offered would reflect the difficult economic environment and the other being that it will take some time to repay the funds required for the takeover.
It will be interesting to see how the potential sale of T Mobile pans out because this is an industry which is looking to cut costs and return to a long-term path of profit growth.
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