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AT&T Unlikely to Bid for Vodafone in Near-Term, Oriel Says 2014-01-24 08:37:53.272 GMT
By Sam Chambers Jan. 24 (Bloomberg) -- One of AT&T’s priorities is to grow the value of its 4G services and Vodafone will not have proper 4G coverage for roughly 2 years, Oriel says. * Oriel: Regulatory changes AT&T is seeking in European environment won’t take place soon, if at all * VOD’s European cash flow outlook is weak amid price competition on bundled services and high capex on Project Spring * Risk/reward unattractive at current share price; advises cutting overweight positions * Rates stock hold with PT 215p, 9% downside to current share price * NOTE: VOD scheduled to hold shareholder meeting on Verizon Wireless deal on Jan 28, scheduled to report 3Q sales on Feb 6
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--Editor: Nadine Skoczylas
To contact the reporter on this story: Sam Chambers in London at +44-20-7673-2021 or schambers7@bloomberg.net
To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net