Boston, MA 09/04/2014 (wallstreetpr) – Vodafone Group Plc (ADR) (NASDAQ:VOD) is being mentioned by insiders at SoftBank as an interesting takeover target for the Japanese telecom company. SoftBank has a deep interest in telecom businesses, and it owns 80% of Sprint Corporation (NYSE:S). Both Vodafone and SoftBank have not officially commented on the takeover rumors.
A story in Nikkei Business Daily said that Vodafone was being considered as a possible takeover target by SoftBank, the reported cited an unnamed executive at SoftBank. According to the executive, Vodafone Group Plc (ADR) (NASDAQ:VOD) has a lot of good things that SoftBank’s CEO, Masayoshi Son, likes in the businesses he acquires. The source further cited that Vodafone is a company that they are familiar with, which also makes it an interesting business to add to their portfolio.
The Nikkei report also stated that SoftBank might make another attempt to acquire T-Mobile US Inc (NYSE:TMUS). Sprint dropped its pursuit of T-Mobile for fears that the U.S. regulators would not approve such a deal. However, SoftBank is not done with T-Mobile as an acquisition target even as reports reveal that it is also seeking a deal with Vodafone Group Plc (ADR) (NASDAQ:VOD).
SoftBank becomes the latest company that has been reported as being interested in acquiring British telecom giant, Vodafone Group Plc (ADR) (NASDAQ:VOD). There were reports earlier that AT&T Inc. (NYSE:T) was considering a deal with Vodafone in a move that could take it to Europe where it sees a big opportunity in data business. However, some investors in AT&T appeared cautious about a move to Europe where the regulatory framework is very stringent.
Vodafone has become an acquisition target after it ended its partnership with Verizon Communications Inc (NYSE:VZ) under Verizon Wireless. Vodafone Group Plc (ADR) (NASDAQ:VOD) sold its stake in the wireless business and ended up with $130 billion in proceeds. Even as other firms look to acquire Vodafone, the company has also been reported as being interested in acquiring smaller rivals to bolster its position in Europe.