Vodafone denies report on Verizon bid

LONDON - Vodafone Group PLC on Monday denied a newspaper report it is considering making a $160 billion bid for its U.S. partner in the wireless phone business, Verizon Communications Inc.

The Financial Times reported earlier that the company was considering making an offer, but cautioned that a bid may not emerge. Any such deal would create a business worth about $300 billion.

But Vodafone said there were no such plans.

"Vodafone wishes to make it clear that it has no plans to make such an offer," the company said in a statement.

Any deal would be aimed at putting an end to speculation over Vodafone's mobile phone stakes, according to the newspaper. Vodafone has been under pressure from a group of shareholders to deliver better value from its approximately 45 percent stake in Verizon Wireless.

The company's partner in New Jersey-based Verizon Wireless is New York-based Verizon Communications.

Verizon shares were up 49 cents, or 1.2 percent, to $42.25 in pre-market trading after Vodafone's statement. Vodafone stock dipped 0.4 percent to 162.5 pence ($3.30) on the London Stock Exchange.

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