Vodafone stocks up on takeover news

<p>Vodafone could be taken over by AT&T next year.</p>

The share price of Vodafone is up today (November 1st) on the back of a potential takeover of the company next year.

Vodafone's stocks rose after it was revealed AT&T is considering launching a takeover of the firm in the coming months.

Bloomberg reported that executives at AT&T are already considering how to set up the deal for Vodafone, which is the largest mobile phone operator in Europe.

Walt Piecyk, an analyst with BTIG LLC in New York, explained buying Vodafone represents an "easy decision" for AT&T because because of "the value of their stock and the still-low interest rates".

Vodafone's chief executive officer Vittorio Colao is believed to be in support of a takeover deal in principle, although the company's spokesman Simon Gordon refused to comment.

At 13:33 GMT, the share price of Vodafone had risen by 2.15 per cent in the wake of the talk of a potential takeover of the firm by AT&T.

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